US judge orders state to turn over its controlling stake in state-run oil company YPF SA as partial payment of a US$16-billion court judgment.

The turnover of the shares comes after a Manhattan judge ruled in 2023 that Argentina owed $16 billion to former minority stakeholders after it expropriated shares in the country’s biggest oil and gas company.

A federal judge in New York ordered Argentina on Monday to sell its majority stake in oil firm YPF, the latest blow to Buenos Aires in a decade-long international legal saga.To partially satisfy the outstanding sum,