Argentina's President Warns of Sanctions on Falklands Oil Firms

Javier Milei, Argentina's President, has warned that he will impose economic sanctions on firms working off the Falklands if they do not stop exploiting oil in the Sea Lion field within two years.

The US has previously stated it would consider revising its neutral position on the islands' sovereignty if the UK fails to increase defence spending.

Milei's statement comes after a 40-year dispute over the Falklands, with Argentina claiming sovereignty and the UK maintaining it as a British overseas territory.

The Sea Lion oilfield is estimated to hold an estimated 1. 7 billion barrels of oil, which could be accessed by firms working off the islands without permission.

Milei has also announced plans for a naval base in Tierra del Fuego, saying that Argentina is a reliable partner and valuable ally for decades to come.

Javier Milei, Argentina's President, has heightened tensions with the UK over the Falklands, warning he will impose economic sanctions on firms exploiting oil close to the British overseas territory.

In a national address, Milei said the 'winds of change' favour Argentina's claim to the islands, emboldened by signs the US might reconsider its stance of neutrality on the issue.

Milei also announced plans for a naval base in Tierra del Fuego in the south of Argentina, saying Trump and the US were 'assessing their historical position in regard to the Falklands', which Argentina refers to as Las Malvinas.