Argentine leader threatens to sanction oil firms and reiterates Falklands claim

Image source, Getty Images By Will Grant , BBC's Mexico, Central America and Cuba correspondent , Chris Graham and Peter Hoskins , Business reporter Published 4 September 2026 Argentina's president has heightened tensions with the UK over the Falkland Islands, warning he will impose economic sanctions on firms which exploit oil close to the British overseas territory. In a national address, Javier Milei said the "winds of change" favoured Argentina's claim to the islands, emboldened by signs the US might reconsider its stance of neutrality on the issue. Milei said the Sea Lion oilfield, where a British and an Israeli firm are due to begin exploration work, was a "clear and present danger".