Spanish Foreign Minister Jose Manuel Garcia-Margallo said today Spain historically had very good relations with Argentina and expected the country doesn’t fall into international isolation.
Margallo has referring to diplomatic crisis between Spain and Argentina triggered by the Argentine goverment announcement it had plans to expropriate shares from oil and gas company YPF, partially owned Spain-based energy group Repsol.
“It is in Argentina’s interest not to end up isolated in the world,” the official said today in Luxembourg today.
Simultaneously, Spain has suggested to EU partners a series of retaliatory measures against Argentina, such as filing a complaint with the World Trade Organization and threatening to celebrate bilateral contracts with Latin American countries in order to exclude Argentina from trade.
Margallo also thanked the European Union for its “unconditional support” and explained the European Union’s executive board is studying ways to change its approach to commerce with Latin American countries.
He emphasized the decision was “bad” to Argentina and stressed the country was in an “extremely delicate moment” economically.
Source: Buenos Aires Herald