Kirchner's Gambit Underlines Nationalist Tilt During Precarious Times

BY MATT MOFFETT

BUENOS AIRES—President Cristina Kirchner's proposed takeover of the oil company YPF SA is the latest sign the Argentine leader is moving the country on a more nationalist and interventionist course.

In recent months, Mrs. Kirchner had already imposed new controls on foreign-currency transactions and imports, moved to take a firmer hold on Central Bank resources and revived Argentina's claims for sovereignty over the Falkland Islands from the U.K.

Analysts say the moves are in part intended to patch over pressing economic problems and to divert attention from political ones that have emerged since Mrs. Kirchner was overwhelmingly re-elected in October.

Updated April 17, 2012, 7:15 p.m. ET