Tuesday, June 5, 2012

Argentina Declares Economic War Against British Resource Companies

Argentina president Cristina Fernandez de Kirchner said the companies were operating 'in a sovereign area of the Argentine nation and as such fall within its specified laws and rules' Photo: Reuters

Argentina To 'Immediately Launch' Criminal Proceedings Against UK Oil Firms Operating Off Falklands Islands -- The Telegraph

The UK Government said it would support the country's oil companies operating around the Falkland Islands after Argentina announced it is taking steps to sue five British firms.

The Argentine foreign ministry on Monday declared "illegal and clandestine" the activities of Desire Petroleum, Falkland Oil and Gas, Rockhopper Exploration, Borders and Southern Petroleum, and Argos Resources on the grounds that they are drilling in Argentine waters.

President Cristina Fernandez de Kirchner said the companies were operating "in a sovereign area of the Argentine nation and as such fall within its specified laws and rules". The companies "are not authorised by the Argentine government under law 17.319 on hydrocarbons", she added.

Read more ....

My Comment:
I guess the executives of these companies are not going to visit Argentina in the near (or long) future.

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