Cabinet Committees
Dail Éireann — 2022-05-18
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Peadar Tóibín (AON), Meath West

I have raised with the Taoiseach the issue of Russian money sloshing around the Irish Financial Services Centre, IFSC, in Dublin. A number of companies have been set up in the IFSC to facilitate the circumvention of sanctions. Journalists for The Currency indicate that they have tracked approximately €13 billion of Russian money, while The Irish Times indicated previously that there was €34 billion in opaque Russian-linked shell companies. I asked the Central Bank if it was investigating this but it said "No". The bank is not investigating it and does not have a proactive investigative role in terms of sanctions being circumvented. I asked the Minister for Justice if An Garda Síochána is investigating this but she could not tell me whether that is the case. Here we are, months after this was first raised, not just by me but by others, and we still do not know whether there is any investigation taking place into the possible circumvention of sanctions by shell companies in the IFSC.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2022-05-18/debate/main
Retrieved: 2026-08-14T04:50:28+00:00
Sitting date: 2022-05-18