The fate of Argentina’s state-run oil company has been thrown into doubt as a U.S. judge ordered the cash-strapped country to give up its 51% controlling stake in YPF.

A U.S. judge has ordered Argentina to transfer its controlling stake in YPF to former minority shareholders, escalating a $16 billion legal battle over the company's 2012 nationalization.

A U.S. judge on Monday ordered Argentina to give up its 51% stake in oil and gas company YPF to partially satisfy a $16.1 billion court judgment, handing a defeat to the cash-strapped country. U.S. District Judge Loretta Preska in Manhattan said Argentina must transfer its YPF shares within 14 days to BNY Mellon,