A U.S. federal judge in New York, Loretta Preska, has ordered Argentina to transfer its 51% controlling stake in the state-run oil and gas company YPF to judgment creditors as partial payment of a $16.1 billion court judgment. The ruling relates to a longstanding expropriation case stemming from the 2012 nationalization of YPF, which occurred under the government of Cristina Kirchner and was supported by Axel Kicillof. The shares are to be transferred to two international hedge funds, Burford Capital and Eton Capital, which are the plaintiffs in the case. Argentina has been given 14 days to comply with the order. In response, Argentine President Javier Milei announced that the government will appeal the decision, emphasizing the intent to defend national interests and pursue all available legal avenues. The ruling marks a new escalation in judicial pressure from the U.S. against Argentina, with the country facing a substantial financial liability and the potential loss of control over its majority stake in YPF. The court order has also impacted Argentine assets, which closed with losses on stock exchanges following the announcement.