Falklands veteran backs island locals on oil discovery amid Labour's climate change row: 'What freedom is all about!'

"It's exciting for them, because they're their own economy, their own country. They have their own rights and laws and they choose to be under British sovereignty, and that's their choice," he said.

The discovery comes as the Falkland Islands Government moves forward with plans to exploit the substantial offshore oil reserves, despite receiving no financial support from the UK Government due to climate commitments.

"This is what freedom and democracy is all about," Weston added, suggesting the ecological debate around oil extraction "isn't one sided".

The Sea Lion oil field, located approximately 135 miles offshore in the North Falkland Basin, was initially discovered in 2010.

A recent analysis conducted in October revealed the field could yield up to 917 million barrels of recoverable oil - roughly double the annual output of the entire North Sea.

Rockhopper Exploration, the leading development company, has increased its extraction plans from 312 million to 532 million barrels.

The Falklands Islands Government approved the exploitation earlier this year following widespread support from the territory's 3,500 residents.

The first exploration of the field could begin as early as 2027, with a final decision on drilling expected next year.

However, Sir Keir Starmer's Government has ruled out providing financial support, with Foreign Secretary David Lammy declaring that climate action would be "central to all that the Foreign Office does".

In a notable suggestion, Weston revealed he had previously discussed the oil prospects with islanders during a visit to the territory.

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"I remember talking to the islanders quite a while ago, when I was down there, and they were talking about the fact that they negotiated an oil contract, if they were ever to discover oil," he said.

The veteran explained that islanders had mentioned receiving approximately 11 per cent of potential profits.

He admitted to making a "cheeky" proposal that some proceeds could benefit those affected by the 1982 conflict.

"I cheekily suggested, well, maybe they could give maybe half a percent or a percent to all the veterans who got badly hurt and families who got killed and everything, because otherwise they wouldn't have this right," Weston said.

"So you never know, there may be a windfall coming my way, but I'll be cheeky enough to ask for that one," he added.

Weston also drew parallels between the Falklands and the Chagos Islands, criticising recent territorial decisions.

He argued the Chagos Islands decision was "flawed in its conception," highlighting the strategic importance of both territories.

"The Americans treasure the Chagos islands and Diego Garcia, because it's a great staging post, listening post, and it can launch operations from there," he said.

The veteran emphasised the Falklands' similar strategic value, particularly referencing historical conflicts.

"We must be very careful about what it is that we think we know rather than actually reading about it and understanding properly," Weston cautioned.

He concluded by reaffirming his support for the islanders' right to self-determination, stating: "As long as the Islanders wish to remain under British sovereignty, I don't think anybody's got the right now to tear that up and throw it away."