(Bloomberg) -- UK Prime Minister Rishi Sunak has dismissed a suggestion from recently-elected Argentinian President Javier Milei that his country could gain sovereignty over the Falkland Islands “through diplomatic channels.” Argentina’s claim to what it calls the Islas Malvinas has been upheld by successive governments since the country gained independence in the 1800s, even though people living on the archipelago overwhelmingly prefer to remain British. Here’s what you need to know about the long-running dispute: 

1. What is the history of the Falkland Islands?

Named after the Scottish Lord Falkland who organized the first European expedition to the islands, they’ve been held at various points by France, Spain, Argentina, the US and the UK. French explorer Louis Antoine de Bougainville was the first to establish a permanent settlement on East Falkland in 1764, and named the islands the Iles Malouines — a reference to the French port of Saint-Malo. The Spanish name given to the islands used in Argentina is a translation. 

In 1765, British Navy captain John Byron landed on West Falkland, unaware of the French presence. In 1770, a Spanish fleet forced the British to surrender and withdraw, and in 1811 the Spanish left too. The islands were then mostly used as a harbor for whalers until merchant Louis Vernet obtained permission from the independent government in Buenos Aires to establish a settlement. His seizure of a US whaler prompted the US government to send a warship, and Vernet withdrew. A British task force re-established British rule in 1833, and a formal colony was created in 1840, supported by the US. 

The British controlled the islands until April 1982, when Argentinian forces landed there. A British military task force, operating under the UN charter exercising the right of self-defense, successfully retook the islands ten weeks later.

2. Why is Milei bringing up the issue again?

Milei called during the election campaign for Argentina to recover the Falklands via a negotiated treaty. This chimes with the thinking of his compatriots, the majority of whom believe the islands should be ceded to Argentina, according to past polling. Voters may have had some doubts about Milei’s position on the issue because the radical economic libertarian had cited Margaret Thatcher as one of his inspirations. The former British prime minister sent a naval task force to wrest back control of the islands after Argentina’s invasion. 

3. What’s the UK’s position?

Sunak has rejected any discussion of the issue, with his spokesman, Max Blain, telling reporters that it “was settled decisively some time ago” and “there is no question of the sovereignty of the islands.” Britain has military assets in place to defend the islands, including a permanent Royal Air Force base hosting four Typhoon fighter jets. It often sends warships to patrol the region, as UK Defence Secretary Grant Shapps pointed out in a post on social media site X in response to Milei’s comments.

4. Why does Britain want to keep the Falklands?

In a referendum in 2013, 99.8% of the islanders voted for it to remain a British territory, and the UK’s policy is to support their right to self-determination. Today, the Falklands have a population of 3,662, and its economy is mostly based on tourism and fishing, with some oil exploration. Argentina pulled out of an oil and gas extraction pact with the UK in March 2023. 

5. Why did Argentina’s 1982 invasion fail? 

The ten-week war with the UK cost the lives of 649 Argentinian troops, 255 British military personnel and three islanders. At the time, Argentina was ruled by a military dictatorship which did not foresee a British military response, and did not adequately plan for its defense. 

6. Are there any Argentinians living on the Falklands?

According to the most recent census in 2021, five residents said their national identity was at least partly Argentinian. Most said they are Falkland Islander, or British, or a combination of the two.

--With assistance from Juan Pablo Spinetto.

©2023 Bloomberg L.P.