Argentina approach WTO about EU biodiesel ban

The Argentinean government has begun to formally accuse the European Union of violating rules set by the World Trade Organisation in regard to biodiesel import restrictions from the South American nation.

The move comes following a decision made by Spain this spring that required all imported biodiesel to come only from European producers. The decision effectively ended Argentina’s supply to the nation, of which it was number one in terms of volume delivered.

The Argentinean Foreign Ministry believes such moves by EU and other rich nations will relegate developing countries to the status of mere raw material providers instead of allowing them to be producers.

However Spain’s restriction only came into place after the Argentinean Foreign Ministry helped expropriate a 51% stake in oil and gas company YPF SA from Spanish oil producer Repsol SA. Repsol was seeking $10.5 billion (€8.4 billion) in compensation for the takeover.