Argentina Moves to Sanction 45 Names Over Falklands Oil Work
Argentina has opened Falklands oil sanctions against 45 companies and executives, and its main business group has publicly backed the government's claim. The post Argentina Moves to Sanction 45 Names Over Falklands Oil Work appeared first on The Rio Times .
Argentina has expanded its sanctions list to include 45 companies and executives accused of participating in unauthorized oil work in the Falkland Islands. The list, the largest ever produced by the South American nation, was announced on September 4, 2026. The targets span eight countries, including the United Kingdom, Israel, Canada, the United States, Sweden, Kazakhstan, South Africa, and Denmark.
The sanctions are enforced under Argentina's 2011 Law 26.659, which penalizes unauthorized hydrocarbon exploration or production on the Argentine continental shelf, as well as those who provide direct or indirect support for such activities. Penalties can reach up to 15 years in prison. The move was expedited by President Javier Milei's decree.
Notable sanctioned entities include Rockhopper Exploration (UK) and Navitas Petroleum, which appears twice due to its two companies involved in the Sea Lion project. Three major oilfield service companies - Halliburton, Baker Hughes, and SLB - have withdrawn from the project. While Mercado Libre, a major Argentine e-commerce company, is not directly sanctioned, its ties to Navitas Petroleum through shared institutional shareholders have raised concerns.
The sanctions primarily impact business reputations and financial operations rather than physical operations, as most sanctioned firms have no assets in Argentina.
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