Smug Argentina boasts of ‘wealth we don’t even know about’ after UN hands over Falklands

ARGENTINA has boasted of “wealth we don’t even know about yet” after a controversial United Nations decision expanded the country’s waters to include the Falklands.

The South American country has been celebrating after a UN commission boosted its maritime territory in the South Atlantic Ocean by 35 per cent, to include the disputed Falkland Islands and beyond.

It is feared Argentina could now use the UN decision to justify greater fishing and future drilling for oil or gas in the South Atlantic, both likely to ramp up tensions with the Falklands.

Argentina’s foreign office have unveiled a new map of the country to include the new territory approved by the UN’s Commission on the Limits of the Continental Shelf (CLCS).

Speaking at the presentation in Buenos Aires on Monday, the country’s Secretary of Exterior Relations Carlos Foradori excitedly pointed to new possibilities for underwater exploration thanks to the large increase in its waters.

He said: “Having obtained about 0.66million square miles more of territory implies the possibility of the exploitation of maritime subsoil.

“As such, we have wealth that we do not even know about yet.”

Despite siding with Argentina in approving the country’s bid to fix the limit of its territory at 200 to 350 miles off its coastline, the CLCS acknowledged the historic tussle between Argentina and Britain over the Falklands.

But Mr Foradori claimed this caveat now means the UN accepts there is a legitimate sovereignty dispute between the two countries over the islands, as he hailed “another diplomatic victory” for Buenos Aires.

He added this “is not a sovereignty dispute, but the creation of national sovereignty quietly and in peace, with all Argentines working in a team, for years, under different governments with a common objective.

“It was the generation of a policy by design and planning, and not by accident”.

But, in a reference to the Falklands, the minister vowed Argentina will not attempt to use the territorial rights granted to it over “maritime spaces which the UK is administrating unilaterally since 1833”.

In a Facebook post welcoming the “new map of Argentina”, the country’s president Mauricio Macri said the CLCS decision was “great news” for Argentine sovereignty.

He added: “This enlargement of the limits of the platform of our country will allow us to defend the richness of our sea, the property of each and every one of the Argentines.”

The news has sparked concerns the Falklands could face a new series of disputes with Argentina over fishing and oil exploration rights.

Shares in Rockhopper Exploration, a UK-based oil company with large sites off the Falklands, saw the value of its shares plummet following the revelation of the CLCS decision in favour of Argentina.

But the Falklands director of natural resources, John Barton, has warned Argentina the extension of its maritime territory might not mean it will be able to harvest greater fishing stocks in the South Atlantic.

He told the local Penguin News: “In theory, any jurisdiction over extended continental shelf areas beyond 200 miles and out to 350 miles does not apply to mobile marine living resources such as squid.

“Any extensions of continental shelf areas are more relevant to mineral resources.”

The Falkland Islands have asked the UK Government for clarity over the meaning of the CLCS decision.

Mike Summers, chairman of the Legislative Assembly of the Falkland Islands, which governs the islands' internal affairs, said: "Our understanding has always been that the UN would not make any determination on applications for continental shelf extension in areas where there are competing claims."

Yesterday, the Prime Minister’s official spokeswoman said: "At this stage, we have yet to receive details of that report.

"It is important to note that this is an advisory commission that makes recommendations that are not legally binding.

"The Commission does not have jurisdiction on sovereignty issues.

"What is important is what the Falkland islanders themselves think.

“They have been clear they want to remain an overseas territory of the UK and we will continue to support their right to determine their own future."

In a referendum held as recently as March 2013, 99.8 per cent of Falklanders voted to remain a British overseas territory.

The islands are self-governing but Britain is responsible for its defence and foreign affairs.

This Saturday will mark 34 years since the outbreak of the Falklands War, which saw Britain enter a ten-week conflict after Argentina invaded and occupied the islands.