The ruling follows a 2009 report by Argentina that fixed its territory 200 to 350 miles from its coast, surrounding the archipelago it calls the Malvinas.
The decision by UN bosses could have significant consequences for Buenos Aires’ claim to natural resources in the sea around the disputed island chain.
Lessons from 2015, for today:
The world is entering a new economic era—one that won’t be defined by America.
This past March marked a radical turning point for the global economy, particularly the United States’ economic dominance.
China proposed the launch of the Asian Infrastructure Investment Bank (aiib)—a new, Chinese-run international bank specifically designed to challenge U.S. global economic leadership. America tried to convince other nations not to agree to join. But it failed—even with its closest allies.
For the U.S., it was an unmitigated disaster.
As was written, the gateways to the world for the West will be taken — America and Great Britain in particular.
Presidential elections loom in the country in October, so perhaps it’s not surprising that a Lilian Herraez, a federal judge in Tierra del Fuego, Argentina’s southernmost region, ordered the seizure of $156 million in property and bank holdings of oil drilling companies, including Noble Energy of the United States.
The government in Buenos Aires said on June 27 that the other targets of asset seizures were Edison International of Italy and three British-based companies, Falkland Oil and Gas Ltd., Premier Oil Plc and Rockhopper Exploration Plc. Continue reading
Prime Minister David Cameron’s spokesman Steve Field said it was “very sad that Argentina continues with their approach of confrontation, not cooperation.”
Argentina has become increasingly assertive over its claims to the islands that it calls the Malvinas, as well as the British-held South Georgia and South Sandwich islands. At stake are not only the islands, but also rich fishing grounds and potential undersea gas and oil reserves in the surrounding seas.
Cameron insists London will not enter negotiations on the sovereignty of the islands. He has said the people of the Falklands must decide their own future and claims Argentina has taken a colonialist approach to the islands’ residents.
Full article: UK warns Argentina regarding the Falklands (AP)