Foreign Minister Pablo Quirno says oil companies will have to choose between the Malvinas and Argentina
Pablo QuirnoArgentine Minister of Foreign Affairs, International Trade and Worship, speaking at the IAEF annual convention
Speaking at the annual convention of the Argentine Institute of Finance Executives, Foreign Minister Pablo Quirno said the government's measures are meant to create a disincentive so that oil companies must choose between investing in the disputed area under licences Argentina calls illegal and doing business in Argentina. He said Law 26,659 already sanctioned companies operating in the islands, but that when it was passed in 2011 Vaca Muerta did not exist to give companies a reason to choose.
“Today what we are doing is creating that disincentive, so that they have to choose between investing in a disputed territory, with illegal licenses, or coming to Argentina with legal certainty and greater business potential. (Translated from Spanish. Original: hoy lo que estamos haciendo es generar ese desincentivo, que tengan que elegir entre invertir en un terreno disputado, con licencias ilegales, o que vengan a Argentina con seguridad jurídica y mayor potencialidad de negocios)”
Reporting
Where this statement fits
Should Argentina sanction UK and Israeli oil companies exploring near the Falkland Islands?
On September 3, 2026, Argentine President Javier Milei announced plans to sanction companies involved in oil exploration near the Falkland Islands, which Argentina calls the Malvinas and has long claimed from Britain. He called the Sea Lion oil project, operated by UK-based Rockhopper Exploration and Israel's Navitas Petroleum, a "concrete and urgent danger." Argentina has since filed a criminal complaint against Navitas Petroleum, begun sanctions proceedings against 60 companies and individuals connected to the project, and a Tierra del Fuego court has ordered the companies to suspend Sea Lion activity pending an environmental review, a step reported as largely symbolic since the project operates under Falkland Islands government licenses. Rockhopper and Navitas say they hold valid licenses with the UK's support and do not expect the measures to affect their activities. UK Foreign Secretary Ed Miliband called the UK's position on the islands "unwavering." Milei has tied the escalation to a 1976 UN resolution against unilateral action and has also announced funding for a new Argentine naval base in Tierra del Fuego. The dispute is whether Argentina should sanction and seek to block companies exploring for oil near the Falkland Islands.
Source and context
Reporting
About this source
Bloomberg Línea report published September 4, 2026, on remarks by Argentine Foreign Minister Pablo Quirno at the 47th annual convention of the Argentine Institute of Finance Executives (IAEF) in Puerto Iguazú, after President Milei announced tougher measures against companies involved in oil activity near the Falkland Islands. The report is in Spanish; English renderings in DI's records are DI translations.
Before the quotation
Quirno spoke at the 47th annual convention of the Argentine Institute of Finance Executives (IAEF), where he explained the scope of the measures President Milei had announced in a national address against companies involved in oil activity near the Falkland Islands.
After the quotation
Quirno said Law 26,659 already barred companies operating in the islands from operating in Argentina, but that when it was passed in 2011 Vaca Muerta did not exist, so companies had no incentive to choose. He also said Argentina's changed economic standing let it position itself differently.
How this statement is classified
The label describes this statement's response within the context above.
Why this label?
Relative to Argentina's sanctions and legal action against companies in the Sea Lion project, Quirno explains and supports the measures as a deliberate disincentive that makes companies choose between the islands and Argentina. He defends the measures, so we labeled it Defended.
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- Published here
- People and groups discussed
- Rockhopper Exploration, Navitas Petroleum
More from this case
Read the full caseMilei tells Ibero-American leaders Argentina has opened sanctions proceedings and criminal complaints over Sea Lion
“We activated sanctions proceedings and filed criminal complaints against the companies involved and their executives. Our Government will assert Argentina's rights with all the firmness the law allows. (Translated from Spanish. Original: Activamos procedimientos sancionatorios y presentamos denuncias penales contra las compañías involucradas y sus directivos. Nuestro Gobierno hará valer los derechos argentinos con toda la firmeza que permite la ley.)”Read statement
International law professor Donald Rothwell says Argentina's Sea Lion case "could therefore fall at the first hurdle"
“While Argentina has framed its claim around UNCLOS, the core of the case is the territorial dispute over the islands, referred to as Malvinas by Argentina. ... Argentina's claim could therefore fall at the first hurdle, and Buenos Aires is no doubt aware of this challenge.”Read statement
Liberal Democrat Al Pinkerton calls Milei's use of UNCLOS arbitration "neo-colonialism dressed up as anti-colonialism"
“They spoke for themselves as a self-governing, self-determining, distinct and identifiable people, yet President Milei now seeks to use UNCLOS arbitration to deny the islanders of economic sovereignty and the right to shape their own future. That is neo-colonialism dressed up as anti-colonialism.”Read statement
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The Dispute Index. "Foreign Minister Pablo Quirno says oil companies will have to choose between the Malvinas and Argentina". First published: 2026-11-10. Last updated: 2026-11-10. https://disputeindex.com/events/8552-speaking-at-the-annual-convention-of-the-argentine