The World Bank's arbitration unit has agreed to hear a complaint by Spanish oil firm Repsol over Argentina's expropriation of the company's former energy affiliate YPF. On its website, the International Center for Settlement of Investment Disputes simply indicated that it had begun the arbitration process on Tuesday and the tribunal was "not yet constituted." Repsol filed its complaint two weeks ago.

The two parties now must agree on the members of a three-person tribunal which will review the case.

Copyright Agence France-Presse, 2012