WTO rules in favor of Argentina in EU biodiesel row.
The World Trade Organization (WTO) today ruled in favor of Argentina in a series of complaints the country filed in 2013, challenging punitive duties by the European Union on its biodiesel imports. The WTO, however, stated that the EU was not violating its rules.
The complaint was filed by former President Cristina Fernández de Kirchner with the World Trade Organization over the European Union's decision to slap anti-dumping duties on Argentina's biodiesel.
EU restrictions at the time dealt a fresh blow to the world's No.1 biodiesel exporter, Argentina, whose industry had already been hurt by previous restrictions imposed by the bloc. The initial restrictions were enacted amid an investigation as to whether Argentina was "dumping" biodiesel, or selling it at below the cost of production, in Europe.
Critics charged, however, that they were imposed at the behest of Spain's right-wing government in retaliation for the partial renationalization of Argentina's leading energy firm, YPF, in 2012.
Argentina's Foreign Ministry called the duties "protectionist" and said the European bloc was seeking to shelter inefficient local producers. Both parties will have 60 days to file an appeal to the WTO’s decision.
At: http://buenosairesherald.com/article/211595/wto-rules-in-favour-of-argentina-in-eu-biodiesel-row-
