Re: For insurance purposes...
Not quite true. The French sold 5 Exocet missiles to Argentine BEFORE the conflict started. France cooperated with Great Britain after the conflict started to prevent Argentine acquiring more Exocets on the international arms markets and providing info on arms sold to Argentine. On the negative side a French technical team in Argentine debugged faulty Exocet launchers.
For more info see http://www.bbc.com/news/magazine-17256975
BTW the last sentence, in the above mentioned piece, coming from an Englishman, is rather ironical.
Kettle and pot come to mind.