President Cristina Kirchner orders state entities to buy from Argentinian companies Faced with rising energy costs and capital flight, Buenos Aires has put in place a number of protectionist measures, including the seizure of a 51pc stake in YPF, formerly a subsidiary of Spanish oil firm Repsol. The row between Argentina and the UK over the Falkland Islands has flared up again recently. Earlier this year, The Sunday Telegraph revealed that the Argentine government sent a letter to 15 British and American banks threatening them with legal action for advising companies exploring for oil around the Falklands. Premier Oil's deal earlier this week to buy a 60pc stake in licences off the Falkland Islands held by fellow British oil group Rockhopper Exploration is set to take it into much more politically volatile waters.