Argentina leader threatens to sanction oil firms

Javier Milei, Argentina's president, has threatened to sanction oil firms and reiterate his country's claim on the British overseas territory of the Falkland Islands.

He stated that the 'winds of change' favour Argentina's claim, citing signs that the US might reconsider its stance on the issue.

Milei also announced plans for a naval base in Tierra del Fuego and described Britain as 'in decline'.

He argued that the UK is acting in violation of a UN resolution urging the two sides not to take unilateral action while the dispute remains unresolved. This latest escalation on the Falklands is part of Argentina's broader efforts to assert its sovereignty over the disputed territory.

Milei needs to shore up votes amid his plummeting popularity, currently languishing at around 34%. There is only a year to go before he faces a presidential election and a serious challenge from his erstwhile vice-president, Victoria Villarruel.

A pro-military politician, she has criticised Milei's diplomatic efforts to secure change on the question of Falklands sovereignty. The sanctions may be part of a wider attempt to stave off accusations that he's weak on an issue which is so fundamental to Argentine identity.

Milei also announced plans for a naval base in Tierra del Fuego, saying Trump and the US were 'assessing their historical position in regard to the Falklands', which Argentina refers to as Las Malvinas. That is not empty words as they understand that Argentina is a reliable partner and a valuable ally for decades to come.