Monday 23 January 2017

UK firms to be hit by Argentina

Damien McElroy

Published 20/02/2010 | 05:00

ARGENTINA is preparing to target British companies that have links to the new oil-drilling ventures off the coast of the Falkland Islands.

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HSBC and Barclays are thought to be on a list of companies that could be hit in revenge for the exploration, which Buenos Aires claims is a "violation of sovereignty".

The companies could find themselves frozen out of business deals in Argentina or have their dealings hampered.

The threat is the latest act in a dispute over plans to begin exploring for oil near the territories, over which Britain and Argentina fought a war in 1982.

Royal Navy ships have been put on standby to protect commercial shipping after Argentina said all vessels passing through its waters would have to apply for a permit.

Argentina has also accused Britain of raising the "spectre of war" by saying preparations had been made to protect the islands. (© Daily Telegraph, London)

Irish Independent

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