US confirms concern over the impact of Argentina’s Falklands bill on its companies

US Deputy Secretary of State Christopher Landau acknowledged in Buenos Aires on Thursday that Washington is closely watching the impact that Argentina’s National Sovereignty Defence bill, which toughens sanctions against those involved in hydrocarbon exploitation in the Falklands, could have on its companies. Argentine Foreign Minister Pablo Quirno defended the initiative.

“We are obviously looking at the interests of our companies. It is natural for any country to be concerned about that, but I want to stress that we respect the legislative process of the great Argentine nation,” Landau said at a joint press conference at the San Martín Palace, after meeting Quirno together with Assistant Secretary for Western Hemisphere Affairs Juan Pablo Segura. The US concern centres on the bill’s extension of sanctions to affiliates, shareholders, financiers and suppliers of the companies involved, as the newspaper Clarín reported on Sunday.

Quirno said current legislation needs changes to give the country better tools and denied that the bill targets anyone in particular: “This law is not against anyone in particular, it is not against any company in particular.” He explained that it seeks to make companies choose between investing on the mainland or in the islands. “We hope they will always choose the Argentine mainland over the illegitimate licences of the Malvinas Islands,” he said. The bill remains stalled in the Chamber of Deputies.

Landau also defended the US proposal to end the UN Decolonisation Committee, before which Argentina presents its claim every year, as part of a broader reform of multilateral bodies, and asked that it not be read in light of any specific dispute. Quirno replied that its possible disappearance would not weaken Argentina’s claim or UN resolutions: “Our claim is global, in every international forum and above all at the United Nations.” He reiterated that Argentina seeks a peaceful negotiation with the United Kingdom.

On bilateral matters, Quirno announced US funding against drug trafficking and child trafficking and for a cybersecurity centre, and a framework with the Export-Import Bank to explore up to US$7 billion in financing for the Andes-Atlantic Corridor. On the conditions of Washington’s support, he said: “The only condition is that we keep doing what we are doing.” US Vice President JD Vance is expected to visit Argentina in November.