Argentina complains to EC on Spanish biodiesel restriction

14 May 2012 23:29  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Argentina asked the European Commission (EC) on Monday to issue an opinion on whether Spain's recent decision to block Argentine biodiesel imports violates World Trade Organization (WTO) rules.

Spain's actions "shouldn't be allowed by the European Union as it would be incompatible with the commitments assumed by the bloc in international trade agreements and the rules stipulated by the WTO," Argentina's Foreign Ministry said in a letter to EC trade director Jean-Luc Demarty.

Spain retaliated against Argentina in April for the expropriation of YPF, with a measure to curtail Argentine biodiesel imports.

Spain started requiring that all biodiesel used there be sourced from EU producers. The measure effectively blocks imports of the fuel from Argentina, which is the main supplier to Spain's biodiesel market.

Argentine President Cristina Fernandez de Kirchner sent a bill to the Senate in April, under which the government would obtain a 51% stake in YPF, effectively expropriating the company amid escalating tensions and accusations of continued decline in oil and gas production in the country.

Spain threatened consequences for Argentina in response to the expropriation of YPF from Madrid-listed Repsol.


By: Leela Landress
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index