Milei to sanction companies operating in the Falklands and build a naval base

Javier Milei has announced a tougher Argentine response to companies operating in the Falkland Islands, warning that firms involved in resource projects without Argentine authorization could lose the right to operate on the mainland.

Speaking in a nationally broadcast address on Thursday, September 3, 2026, the Argentine president said the measure would also apply to shareholders, directors and suppliers connected to those companies. His government is preparing a decree to speed up sanctions and will send Congress a bill to increase penalties.

Milei singled out oil projects involving Israel’s Navitas and Britain’s Rockhopper. Argentina previously sanctioned Rockhopper in 2013 and Navitas in 2022. Exploratory licenses also exist for Borders & Southern and JHI. The president said Argentina needed to act quickly to prevent undersea oil reserves in the South Atlantic from being exploited.

The announcement linked the Falklands dispute to a broader security and geopolitical contest over the South Atlantic, strategic resources and Antarctica. Milei referred to recent comments by Donald Trump about the U.S. position on the islands and said Washington could review its historic stance. He also described Britain as being in decline while portraying Argentina’s future as “flourishing.”

Milei separately announced a decree expanding the Defense Ministry’s resources to build an integrated naval base in Tierra del Fuego. He said the facility would become a major logistics hub for the South Atlantic and strengthen Argentina’s geopolitical position. The proposed legislation would also create a National Security Council dealing with critical infrastructure and aerospace and maritime protection.

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