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EU vows to punish Argentina
The European Union’s trade chief said yesterday he would soon take measures against Argentina over its decision to expropriate the stake held by Spain’s Repsol in oil company YPF, though he did not say what action he was planning. Argentina’s decision to seize control of YPF last month angered its biggest trade partners, who were already losing patience with protectionist measures. EU trade commissioner Karel De Gucht criticised “the growing tendency towards protectionism across Latin America” in a speech in Brussels.