Argentina's government has announced it will file criminal charges against Israeli-listed energy firm Navitas Petroleum and its executives over their operations in the Falkland Islands, escalating President Javier Milei's campaign against companies drilling in the British overseas territory. The move follows a speech by Milei last Friday in which he vowed to use "diplomatic, economic, judicial and legal" means to obstruct oil exploration around the islands, reasserting Argentina's long-standing sovereignty claim and suggesting shifting US support under Donald Trump could work in Buenos Aires' favour.

Foreign Minister Pablo Quirno will lodge the complaint against several Navitas subsidiaries and partners, alleging they breached Argentine law by holding UK-issued hydrocarbon licences in the North Falkland Basin. Navitas operates the Sea Lion offshore project, estimated to hold 1.7 billion barrels of oil, with a 65 per cent stake; its chairman, Gideon Tadmor, holds roughly 9 per cent of company shares. Milei, who faces an election within a year and falling approval ratings, also announced plans for an emergency decree to build a naval base on Tierra del Fuego, though he stopped short of threatening military action over the islands, which Argentina invaded in 1982.