{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='AP edit of Fernandez announcing bill to nationalise Spanish oil company YPF' data-url='/boclips/videos/5c54c43ad8eafeecae1672fa' data-video-url='/boclips/videos/5c54c43ad8eafeecae1672fa' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nAP edit of Fernandez announcing bill to nationalise Spanish oil company YPF\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide of members of the Argentinean cabinet at news conference2. Mid of Argentinean vice-president Amado Boudou and Argentinean president Cristina Fernandez3. Mid of audience rising, clapping and shouting slogans 4. Cutaway of...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide of members of the Argentinean cabinet at news conference\u003cbr/\u003e2. Mid of Argentinean vice-president Amado Boudou and Argentinean president Cristina Fernandez\u003cbr/\u003e3. Mid of audience rising, clapping and shouting slogans \u003cbr/\u003e4. Cutaway of cameraman with the audience shouting slogans supporting Cristina Fernandez \u003cbr/\u003e5. SOUNDBITE: (Spanish) Cristina Fernandez, Argentinean president: \u003cbr/\u003e\"We are the only country in Latin America, and I would say in practically the entire world, that doesn''t manage its own natural resources.\"\u003cbr/\u003e6. Cutaway of screen showing the descent in the oil reserves of Repsol-YPF \u003cbr/\u003e7. Wide of news conference\u003cbr/\u003e8. SOUNDBITE: (Spanish) Cristina Fernandez, Argentinean president: \u003cbr/\u003e\"The model we have chosen is not a model of statism, that must remain clear, it is a model of  recovery of sovereignty and of control of a key tool. Because we will maintain the model of corporation (public limited company), we will keep functioning according to the laws for private companies.\"\u003cbr/\u003e9. Wide of news conference\u003cbr/\u003e10. SOUNDBITE: (Spanish) Cristina Fernandez, Argentinean president: \u003cbr/\u003e\"Because I would like him (late husband Nestor Kirchner) to see me because he always dreamt of getting YPF back for our country. Always. Always.\" \u003cbr/\u003e11. Entrance to the YPF building \u003cbr/\u003e12. Governor of the province of La Pampa Oscar Jorge leaving the building \u003cbr/\u003e13. Employees leaving building \u003cbr/\u003e14. SOUNDBITE: (Spanish) Jorge Sapag, Governor of the province of Neuquen: \u003cbr/\u003e\"Once the decree by the president of the nation was made public, Julio de Vido came here to take charge, a document was signed with Mr Mauro Dacomo (a YPF senior official) acting as representative of the director and of the company.\" \u003cbr/\u003e15. Various of demonstration in support of the nationalisation of YPF outside the presidential palace  \u003cbr/\u003eArgentina''s President Cristina Fernandez on Monday presented a bold plan to seize control of leading oil company YPF by nationalising the shares owned by Spain''s Repsol.\u003cbr/\u003eIt''s a move to expand the state''s control over Argentina''s energy reserves despite fierce criticism from abroad.\u003cbr/\u003eFernandez said the government would ask Congress, which she controls, to approve a bill to expropriate a controlling 51 percent stake in the company by seizing shares held exclusively by Repsol, saying energy was a \"vital resource\".\u003cbr/\u003eArgentina is an oil-producing nation that this year expects to import more than 10 (b) USD billion worth of gas and natural liquid gas in the face of an energy crisis, according to estimates from the hydrocarbon sector. \u003cbr/\u003eGovernment officials have now taken over the company until the decree is passed by congress.\u003cbr/\u003eFernandez has put Federal Planning Minister Julio de Vido and Economics Vice Minister Axel Kicillof - the new rising star in Fernandez''s cabinet - in charge of handling the expropriation.\u003cbr/\u003eDe Vido, escorted by the governors of the 10 oil-producing provinces went to the YPF tower in the financial district of Buenos Aires on Monday to formalise the new situation with representatives of the company. \u003cbr/\u003e\"Once the decree by the president of the nation was made public, Julio de Vido came here to take charge, a document was signed with Mr Mauro Dacomo (a YPF senior official) acting as representative of the director and of the company,\" Jorge Sapag, Governor of the province of Neuquen said on Monday.\u003cbr/\u003eArgentinean and Spanish media reported that all of the top Spanish executives at the Repsol-YPF building were asked to pack their belongings and leave.\u003cbr/\u003eGovernors of oil-producing Argentine provinces have withdrawn about 15 oil leases, representing 18 percent of YPF''s crude production, alleging the company failed to keep its promises to develop them. \u003cbr/\u003eFerndandez said that Argentina had a deficit of three (b) billion dollars last year partly due to energy imports.\u003cbr/\u003e\"We are the only country in Latin America, and I would say in practically the entire world, that doesn''t manage its own natural resources,\" Fernandez said. \u003cbr/\u003eShe said her proposal \"is not a model of statism\" but \"the recovery of sovereignty.\"\u003cbr/\u003eBut analysts said the move risks alienating foreign investors and prompting retaliation from Spain''s government.\u003cbr/\u003eThere was no explanation of how, or how much, Repsol and its stockholders would be compensated. \u003cbr/\u003eAnalysts say that the government might have to use Central Bank reserves, or funds from the National Social Security Administration pension fund to pay for the takeover. \u003cbr/\u003eEven with its share prices depressed, YPF last week were valued at 13.6 (b) billion USD, and buying half of that would deplete Argentina''s treasury of funds it needs to maintain the populist subsidies that have kept the country''s economy afloat.\u003cbr/\u003eRepsol released a statement promising to protect the interests of its shareholders.\u003cbr/\u003eSpan''s Foreign Minister has called the move arbitrary, and said it broke the climate of cordiality and friendship that had existed with Argentina. \u003cbr/\u003eThe European Commission has warned that nationalising YPF would be bad for the investment climate in Argentina, and has said it backs Spain in the standoff over the subsidiary.\u003cbr/\u003eYPF is Argentina''s biggest company, and Spain is Argentina''s largest foreign investor, with the United States in second place.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more 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