Argentina is preparing criminal charges against Navitas Petroleum and its executives over the company’s operations in the Falkland Islands, escalating Buenos Aires’ campaign against oil exploration in the disputed territory.
The announcement came after President Javier Milei said on Friday that Argentina would impose sanctions on energy companies drilling in the British overseas territory, reinforcing the country’s long-standing sovereignty claim.
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In a statement issued by the presidency, officials said Foreign Minister Pablo Quirno would submit the criminal complaint against several Navitas subsidiaries and business partners active in the territory, as well as their corporate directors.
Navitas did not immediately respond to a request for comment.
Mr Milei last week identified the Sea Lion offshore oil project as he unveiled measures aimed at companies involved in oil and gas operations around the Falkland Islands. The proposed penalties could also apply to shareholders, directors and suppliers.
The Sea Lion field is operated by Tel Aviv-listed Navitas Petroleum, which owns a 65% stake in the project.
Gideon Tadmor, a prominent figure in Israel’s energy sector who serves as the company’s chair, owns about 9% of Navitas shares, according to LSEG data.
