Argentina's President Javier Milei has threatened to impose sanctions on companies involved in oil exploration off the Falkland Islands, asserting that the ongoing activities pose a "clear and present danger" to national interests. The warning sent shares in British oil and gas firm Rockhopper Exploration down 6.4%.
Milei stated that Argentina would reclaim the British territory and expressed concern that inaction could lead to companies gaining the capacity to access oil reserves within months. Rockhopper and its Israeli partner, Navitas Petroleum, are planning to begin oil extraction from the Sea Lion oilfield within the next two years.
Despite the heightened rhetoric from the Argentine president, Rockhopper and Navitas have indicated that the threats are unlikely to have a "material effect" on their operational plans.