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In a national televised address on September 4, 2026, Argentine President Javier Milei announced strengthened sanctions against companies linked to the Sea Lion offshore oil project, a bill creating a National Security Council, and a naval base in Ushuaia, Tierra del Fuego. He stated that "the Falklands are Argentine by history and by law" and rejected any right to self-determination for the islanders, describing the United Kingdom as a declining power. The announcement follows comments by Donald Trump suggesting a possible revision of the US neutrality on this sovereignty dispute. London reaffirmed the same day an "unwavering commitment" to the Falklands, which will remain British as long as the islanders wish.
The bill still needs to be voted on by the Argentine Congress, and Washington has neither confirmed nor denied a change in its historical position of neutrality.
Held 65% by Israeli company Navitas and 35% by British company Rockhopper, extraction is expected to start in 2028.
After four years of work, the project has only made 9.13% progress, with 2,474 million pesos spent.
On September 3, Buenos Aires recognized Chilean sovereignty over the Strait of Magellan in exchange for Santiago's support.
An internal email revealed in April already framed the Falklands as a pressure point on NATO allies.
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