Argentina set to ‘sanction Falklands oil fields’ as part of new measures

It comes as Argentinian President Javier Milei addresses the nation.

This comes as per reports from The Telegraph, and ahead of a national address set to be given by Argentinian President Javier Milei at 1am BST on Friday 4 August (9pm local time, Thursday 3 August).

The outlet says that Argentina is preparing to sanction offshore oil-drilling in the region, which is led by Rockhopper Exploration, a British firm, and Navitas, an Israeli company.

Javier Milei is set to announce sanctions on Falklands oil fields. Image: Getty.

The Falklands possess a huge amount of oil, with the Sea Lion oil field which is owned by these companies containing 1.7 billion barrels of oil.

This is more than anything in waters around the British Isles.

This comes as rumours swirl that Milei may be planning on giving the US access to drill off the coast of the Falkland Islands.

Earlier today, Donald Trump suggested he would not back the UK if Argentina threatened the Falkland Islands, because the UK was “not there to help me” in Iran.

This week, Trump said he was ‘reviewing’ the US’s position on the Falklands, which has always been a neutral one.

The US president has suggested he would not support the UK in a dispute over the islands, as revenge for the lack of support he received for his war with Iran.

Speaking to GB News on Thursday, Trump was asked if he would  “come to the aid” of the UK over the islands.

He replied: “Well look, I was there when they had the first war.

“That was a long time ago, and I watched it so carefully, and you comported yourselves very well.

“You took it back pretty strongly, but it’s a long way away. That’s a big trip, it’s a long way.”

“So, your country’s not doing well. Don’t forget, you get a big percentage of your oil from the Strait of Hormuz, and you weren’t there to help me,” Trump continued.

“Your country was not there to help me. We didn’t need help, but I did ask Nato, and I asked your former leader, ‘why didn’t you send a couple of ships?’

“He said we don’t have any, and it was pretty sad, the whole thing.

He added: “So Nato was not there, even though they get – most of those countries get – a big portion of their oil from there. So we’re doing that by ourselves.”

Following Trump’s comments earlier this week and Milei’s announcement about a televised statement, the UK government reiterated its “unwavering” commitment to the Falkland Islands.

In 2013, the people living on the Falklands were given the choice whether to remain an Overseas Territory of the United Kingdom.

The outcome was 99.80% voting yes, with only three people voting no.