On September 17, local time, Argentine President Millet signed and submitted a draft “National Sovereignty Defense Law” to the National Assembly, proposing to completely replace the current system to sanction unauthorized development of natural resources in the Malvinas Islands, South Georgia Islands, South Sandwich Islands and related marine areas. The draft extends the ban to shareholders, controllers, and suppliers, includes fines calculated at the international price of oil, and imposes penalties of up to 20 years in prison for specific activities.

On September 17, local time, Argentine President Millet signed and submitted a draft “National Sovereignty Defense Law” to the National Assembly, proposing to completely replace the current system to sanction unauthorized development of natural resources in the Malvinas Islands, South Georgia Islands, South Sandwich Islands and related marine areas. The draft extends the ban to shareholders, controllers, and suppliers, includes fines calculated at the international price of oil, and imposes penalties of up to 20 years in prison for specific activities.