Argentine court orders seizure of Falklands/Malvinas ‘illegal’ oil drillers’ assets

‘Argentina has ordered the seizure of assets belonging to foreign drilling companies operating in the vicinity of Falklands / Malvinas Islands, saying they have failed to obtain the necessary permissions from Buenos Aires to conduct exploration.

A federal judge in Tierra del Fuego, Lilian Herraez, has ordered authorities to seize the assets of five companies drilling for oil in the Falklands worth $156 mn. The measure was ordered following a request of a prosecutor from the Office of Economic Crime and Money Laundering (PROCELAC).

According to the prosecution, the order to seize assets was issued for “illegal activities of exploration, search and eventual extraction of hydrocarbons in proximity to the Falkland Islands” because the companies in question failed to obtain permits issued by “the competent authority in Argentina.”’

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