Argentina orders asset seizure of Malvinas drilling firms
A federal judge in Argentina has issued an order to seize the assets of five foreign companies exploring oil in waters off the disputed Malvinas islands, also known as the Falklands to the British.
Judge Lilian Herraez, based in the Tierra del Fuego region of southern Argentina, ordered on Saturday the freeze of USD 156 million and other assets such as ships, calling on the oil firms to halt their drilling activities around the islands.
Herraez accused the companies of contaminating the environment and operating without the Argentine government authorization for their explorations.
According to the prosecution, the ruling was issued concerning “illegal activities of exploration, search and eventual extraction of hydrocarbons in proximity to the Falkland Islands.”
Rockhopper Exploration plc, Premier Oil plc and Falkland Oil and Gas Limited, which are all British, as well as the US Noble Energy Inc. and French-owned Italy-based Edison International SpA are among the firms named in the case.
Located about 500 kilometers (about 300 miles) off Argentina’s coast and home to about 3,000 inhabitants, the disputed islands have been declared part of the British Overseas Territories since Britain established its colonial rule on the territories in 1833.
Argentina and Britain fought a 74-day war in 1982 over the islands, which ended with the British side claiming victory over the Argentinians.
The United Nations (UN) Special Committee on Decolonization considers the islands as a colony, which is waiting to be decolonized.
SSM/HSN
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