- Argentina ’s president has said he will impose sanctions on oil drilling off the Falkland Islands as tensions between the UK and Argentina boil over.
- The drilling off the Falklands is led by two British and Israeli companies which own the Sea Lion oil field. The oil field is located about 220km north of the Falklands and contains an estimated 1.7 billion barrels of oil.
- Javier Milei said Argentina had determined that the Sea Lion offshore project, operated by Navitas Petroleum and Rockhopper Exploration, could begin oil development in the coming months, creating an urgent threat to Argentine interests.
- “If we do not act swiftly, in a few months they will have the material capacity to access the oil that lies underneath our sea – something that has never happened before,” Milei said.
- Milei said Argentina would boost efforts to levy penalties not only against the companies involved in drilling off the Falklands, but also against their shareholders, directors and suppliers, saying such operations represented a “clear and present danger” to Argentina.
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