- Argentina’s new president, Javier Milei, has announced sanctions targeting companies drilling off the Falkland Islands, singling out the Sea Lion oil project — notable because its operators and major investors have strong Israeli ties.
- The move pulls Israeli investors into the long-running UK‑Argentina Falklands sovereignty dispute (the islands were the subject of the 1982 war), even though Argentina says relations with Israel won’t be harmed.
- Sea Lion is a big play — an estimated 1.7 billion barrels with first oil aimed for 2028 — and the announcement sent Navitas and Rockhopper shares down sharply.
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