Argentine Falklands war veterans have threatened to invade the islands if Britain does not give up sovereignty.

Soldiers warned of a rerun of the 1982 conflict in a chilling message to Gordon Brown's government today.

The threat came after diplomatic tensions between Britain and Argentina mounted as oil exploration in the Falklands continued and a Navy submarine was apparently dispatched to the area.

Conflict: A man burns a British flag in front of the Foreign Ministry building in Buenos Aires, Argentina, last month. Argentine Falklands veterans have now threatened to invade the islands

A spokesman for a leading Buenos Aires-based war vets' association, reigniting fears a new conflict is looming, vowed: 'If the Malvinas cannot be recovered peacefully we will return as soldiers.

Cesar Gonzalez Trejo, spokesman for the Malvinas Combatants' Civil Association in Buenos Aires, also called for a national boycott of British products.

And he warned Argentine soldiers who fought against British troops nearly 28 years ago were also planning a Greenpeace-style protest against the oil drilling platforms.

HMS Sceptre, a Swiftsure-class nuclear powered submarine, is said to have been sent from southern Africa to make Argentina think twice about laying serious claims to the islands.

Trejo told Argentine daily Cronica: 'It's obvious Britain's pirate incursion into maritime exploration in the Malvinas is part of a strategy planned 40 years ago.

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Controversial: The drilling rig Ocean Guardian, which is due to explore oil reserves near the Falkland Islands. Argentina claims the rig is in territorial waters

Labelling Britain 'invaders' and 'pirates' he added in a message to the Argentine public: 'As far as peaceful measures go, we have tools to boycott them which can do more damage than weapons.

'Not consuming their products or depending on them is the best way of confronting them.

'There's also an idea for a peaceful protest in boats like the Greenpeace protests without threatening the British.'

Trejo's threats, made in the name of his association's members, came a day after it emerged Argentine politicians are set to debate a bill forcing firms to choose between the south American nation and the Falklands.

The bill, yet to become law, imposes a 30-day deadline on firms to axe ties with the Falklands or face being kicked out of Argentina.

Backers say they hope to target firms like Barclays, a shareholder of British firm Desire Petroleum which is currently drilling for oil in the Falklands.

It also emerged today that British Embassy officials in Buenos Aires are bracing themselves for a new demonstration by Argentine protestors.

Scores of protestors armed with petrol bombs tried to storm the British Embassy earlier this month.

Around 100 masked activists marched on the building and burned the Union Flag to demonstrate against Britain's ownership of the Falklands.

Tensions: A British Navy submarine has apparently been dispatched to the Falklands

Trejo, in a plea for peace which went against his earlier threats of war, said: 'We are hoping for huge support from the Argentine people.

'Those bent on violence should stay at home because we're not going to burn flags or anything like that. The march will be peaceful.'

Argentina has claimed the Falklands since Britain established its rule in the 19th century and invaded the South Atlantic Islands in 1982.

Argentines still maintain a claim to the archipelago, which lies 300 miles from its coast.

In the past month, Argentine president Cristina Fernandez de Kirchner has reasserted their claim and has objected to the British oil exploration.

The Argentine government has also tabled a UN resolution condemning Britain for allowing oil exploration off the Falklands.

Last month President Kirchner issued a decree forcing ships sailing to the Falklands from Argentine to seek a permit.