Renationalization of YPF Renationalization of YPF President Cristina Fernández de Kirchner of Argentina introduced a bill on April 16, 2012 for the partial renationalization of YPF, the nation's largest energy firm. The state would purchase a 51% share, with the national government controlling 51% of this package and ten provincial governments receiving the remaining 49%. The bill was overwhelmingly approved by both houses of Congress, and was signed by the president on May 5. The government of Argentina eventually agreed to pay $5 billion in compensation to Repsol, which had previously owned YPF. YPF was founded in 1922 as the first oil company
Presidency of Cristina Fernández de Kirchner In March 2008, Kirchner introduced a new sliding-scale taxation system for agricultural exports, effectively raising levies on soybean exports from 35% to 44% at the time of the announcement. This led to a nationwide lockout by farming associations, starting on March 12, with the aim of forcing the government to back down on the new taxation scheme. They were joined on March 25 by thousands of pot-banging demonstrators massed around the Buenos Aires Obelisk and in front of the presidential palace. Protests extended across the country. In Buenos Aires, hours after Kirchner attacked farmers for their two-week strike and "abundant"