Why do the Falkland Islands matter to the UK and Argentina so much?
Argentina's sovereignty claim is enshrined in its constitution, but oil production raises the economic stakes.
A dispute between Argentina and Britain over control of the Falkland Islands has flared up again, after Argentinian President Javier Milei said the “winds of change” favour his country’s claim to the self-governing overseas United Kingdom territory.
Argentina’s presidency said in a statement on Friday that it had ordered the opening of proceedings to “investigate and penalise” 45 entities “linked to the exploration and exploitation of hydrocarbons” around the Falklands, which Argentines call Las Malvinas.
The remarks followed comments from US President Donald Trump that the United States was reviewing its position on the Falkland Islands. Washington has threatened to oppose Britain’s sovereignty over the South Atlantic archipelago if it does not increase its NATO defence spending.
Plans for large-scale oil production around the islands raise the economic stakes of the dispute. Milei declared that the Sea Lion deep-sea oil project, a joint UK-Israel operation, was a “clear and present danger” to the country’s claims.