Departmental Bodies
Dail Éireann — 2022-03-02
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Peadar Tóibín (AON), Meath West

The Currency has an article today on its website that indicates it has tracked about €13 billion domiciled in the IFSC by sanctioned Russian firms. The Irish Times has stated that about €34 billion is held in opaque Russian-linked shell companies registered in the IFSC. Colm Keena published a report in 2020 that showed a network of bank accounts allowing Russia to funnel money into the West. Cillian Doyle and Jim Stewart have carried out research that shows that €118 billion has been moved by Russian companies through section 110 trusts based in the IFSC over a 12-year period.
All the rhetoric we use in this House will come to nothing if we do not show Ukraine that we mean business by ensuring these sanctions are not circumvented through the IFSC. What will the Taoiseach do to make sure that is the case?

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2022-03-02/debate/main
Retrieved: 2026-08-14T04:50:12+00:00
Sitting date: 2022-03-02