28.01.2025 10:20
The Washington administration, which is engaged in an economic war with China, is also effectively waging a legal battle against Argentina, a country in Latin America. Argentina has lost its latest struggle to prevent the United States from seizing 300 million dollars.
The U.S. Supreme Court rejected Argentina's appeal against a ruling that allows creditors to seize more than $300 million from overseas accounts. This dealt a blow to the cash-strapped country's efforts to avoid paying billions awarded to former investors by foreign courts.
Analysts said that the seizure of funds would mark the first time in nearly a decade that claimants have successfully taken ownership of Argentine assets, despite a wave of ongoing lawsuits in international courts due to controversial decisions made by previous governments.
ARGENTINA'S LEADER PROMISED TO MEET OBLIGATIONS
The plaintiffs in the case are a group of investment funds holding bonds that were never exchanged despite three rounds of restructuring and settlements in 2005, 2010, and 2016, affected by Argentina's massive public debt default in 2001. Libertarian President Javier Milei has pledged that Argentina will meet all its obligations, but officials have specifically warned that as the government tries to address a serious economic crisis, the country will continue to seek legal avenues to reduce them.