The Falkland Islands are set to cash in £4billion from oil reserves buried beneath the Atlantic, as Argentina ramps up its claim over the territory.
The discovery of 900 million barrels of oil within the Islands’ exclusive economic zone has fuelled the country’s latest bid to regain ‘Las Malvinas’.
Argentine president Javier Milei has insisted he will ‘act swiftly’ to ‘recover’ the islands, which he claims belong to his country by law and historical precedent.
Corporation tax revenues and royalties from the Sea Lion field, which is expected to start pumping oil in 2028, are expected to transform the Islands’ economy.
The project could
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