Argentina Imposes Sanctions on Israeli Firms Over Falklands Oil Project

Argentine President Javier Milei has announced sanctions against 45 organizations, including Israeli financial entities and the oil company Navitas Petroleum, involved in oil projects near the Falkland Islands. The sanctions target Israeli firms such as Harel, Migdal, Phoenix, and investment house Meitav, which hold stakes in the Sea Lion project. British company Rockhopper Exploration, its shareholders, and executives are also affected, with a total of 11 countries represented in the sanctions list. This move is surprising given Milei's previously strong ties to Israel, his public support for its leadership, and his official visits to the country. Argentine media have noted the contrast between these strict measures and the absence of criticism towards Israel regarding the disputed resource development. Milei stated the sanctions are aimed at protecting Argentina's sovereignty over the islands, which Buenos Aires refers to as the Malvinas. The Sea Lion oil project, slated for a 2028 launch, is at the center of the dispute. Despite the sanctions, Navitas Petroleum affirmed that the project continues legally with UK support and that recent events will not impact its timeline.