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Nationalization

Repsol shares fell by 6 percent yesterday in response to Monday's announcement that Argentine President Cristina Fernández de Kirchner intends to nationalize YPF SA, Argentina’s biggest oil and gas producer.

Commerce Minister Eduardo Samán announced on Saturday that “patents have become a barrier to production” and stymie access to medicine, placing the interests of multinational pharmaceutical companies ahead of the welfare and needs of the Venezuelan people.