Argentina evokes law to force diesel imports

Argentina has threatened statutory sanctions against foreign oil companies if it detects problems in the supply of products such as diesel.The administration of President Néstor Kirchner reactivated a law, enacted in 1974 during the administration of former nationalist-populist President Juan Perón, empowering the government to intervene in commerce and industry, close establishments, apply fines, and imprison executives.The main diesel suppliers in Argentina are Petroleo Brasileiro SA (Petrobras), Royal Dutch Shell PLC, Repsol YPF, and a unit of ExxonMobil Corp.In a press conference, Guillermo Moreno, domestic commerce secretary, said, “It is the duty of all public em...

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