The EU High Representative Catherine Ashton announced the EU decision to postpone the EU-Argentina joint Cooperation Committee meeting scheduled on 20 of April following the Argentina's decision to expropriate the majority stake held by Repsol in YPF.

Following the Argentinean Government announcement of its intention to expropriate the majority stake held by the Spanish company Repsol in the YPF energy company, the EU High Representative Catherine Ashton announced the decision of postponing the EU-Argentina Joint Cooperation Committee which had been scheduled to take place on 20 of April. In addition to this decision, Ms Asthon announced that the European Commission and the European External Action Service (EEAS), which was established in 2010 by the Council, are studying the Argentinean draft measure so as to determine the next steps.

The EU High Representative stressed the EU support to the Spanish government in this matter. According to Ms Ashton, the Argentinean Government decision creates legal insecurity for all European Union and foreign firms in the country. She also show herself alarmed to note that the President referred, in her speech, to investments in other sectors such as telecoms and banking.

The High Representative also reminded that this announcement adds to a number of problematic decisions taken by Argentina over the past few years in the areas of import restrictions and investment policy. According to Ashton, the Government of Argentina must ensure compliance with its international commitments on the treatment and protection of investments originating from the European Union.