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Argentina’s Falkland Oil Threats Are Groundless, Times Reports

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April 14 (Bloomberg) -- Argentinian threats against companies working in the Falkland Islands have no basis in international law, the Times reported, citing an oil explorer that plans to begin drilling in the area.

Tim Bushell, chief executive officer of Falkland Oil & Gas Ltd., said that unless companies acquire assets in Argentina that could be seized, international law provides no grounds for legal action against them, the London-based newspaper reported.

Last month, Argentina’s embassy in London sent letters to as many as 15 banks, including Royal Bank of Scotland Group Plc, Barclays Plc and Goldman Sachs Group Plc, warning that they would face criminal and civil action in Argentine courts for advising Falkland oil explorers or even publishing research notes about them, the Times said.

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net