Argentina has announced plans to sanction entities involved in hydrocarbon exploration near the Falkland Islands, which it claims as its territory.

The Argentine government has initiated proceedings to investigate and penalize 45 entities linked to oil and gas exploration near the Falkland Islands. President Javier Milei stated that the move aligns with his administration's efforts to assert Argentina's claim over the archipelago, which is currently administered by Britain.

Scope of the investigation

The Argentine presidency announced the investigation on Friday, targeting companies involved in the exploration and exploitation of hydrocarbons in the region. While the government did not publicly name the 45 entities, local media reports indicate the list includes companies from Britain, the United States, Canada, Israel, Denmark, and the Netherlands.

Industry response

Following the announcement, oilfield services companies Schlumberger, Halliburton, and Baker Hughes issued statements confirming they do not and will not participate in hydrocarbon projects near the islands. President Milei subsequently shared reports of these statements on social media, noting that the situation was proceeding according to plan.