President of Argentina Javier Milei on Thursday threatened to impose sanctions on oil companies operating on or near the Falkland Islands, a British territory that Argentina insists has been rightfully Argentine for nearly two centuries.

The prospective sanctions are part of a broader set of measures Milei announced during a government broadcast to “exercise our sovereignty” over the Falkland Islands on Thursday night. Some of the measures include the construction of a new naval base in the Tierra del Fuego province, the establishment of a National Security Council, and “modernizing” Argentine military equipment.

Milei pointed out that the…

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