GENEVA Aug 22 A World Trade Organisation (WTO)
dispute panel ruled against Argentina on Friday in a 2012 case
brought by the United States, European Union, and Japan against
Argentine import licensing rules used to restrict imports.
The three trade powers argued that Argentina did not grant
licenses to importers automatically, as required under WTO
rules, allowing it to shield its vulnerable economy. The case
was part of a tit-for-tat trade war in which the government
seized control of oil firm YPF from its Spanish parent Repsol.
The panel of three independent arbitrators found that
Argentina licensing rules violate GATT agreement and called on
the government of Cristina Fernandez to bring them into line
with international trade rules.
(Reporting by Stephanie Nebehay; Editing by Alison Williams)