Argentina threatens to sanction oil projects around Falklands

Argentina has announced that it will investigate and sanction oil companies working near the Falkland Islands without authorization, after President Javier Milei said the "winds of change" favor his country's claim to the archipelago.

Britain and Argentina fought a 10-week war in 1982 over the South Atlantic islands, a British overseas territory that Argentines call Las Malvinas.

Argentina's presidency said in a statement Friday that it had ordered the opening of proceedings to "investigate and penalize" 45 entities "linked to the exploration and exploitation of hydrocarbons" around the Falklands.

The statement did not name the entities involved. According to Argentine media, they include British, US, Canadian, Israeli, Danish and Dutch companies.

On Saturday afternoon, oilfield services companies Schlumberger, Halliburton and Baker Hughes issued statements saying they do not and will not work on hydrocarbon projects near the islands.

Later, Milei shared a news item on X reporting the statements, along with an acronym that translates to "everything is going according to plan."

The Falklands are located about 600 km east of Argentina's southernmost tip and administered by Britain. The Falklands war in 1982 ended with the surrender of the Argentine government after 74 days of conflict that killed 649 Argentines and 255 British troops.

In a speech Thursday, Milei renewed claims to the Falklands and announced tougher sanctions on companies linked to oil projects nearby.

"There are winds of change in the world that are favorable to our claim," Milei said.

Milei's speech followed comments from US President Donald Trump on Monday that the United States was reviewing its position on the Falkland Islands.

According to media reports, Washington has threatened to oppose Britain's sovereignty over the South Atlantic archipelago if it does not increase its NATO defense spending.

British Defense Secretary Wes Streeting responded by asserting Britain's "unshakeable" commitment to the Falklands.

"The Falklands are British because Falkland Islanders choose to be British," he said in a social media post Friday.