The IFSC in Dublin. Image: Alamy Stock Photo The IFSC in Dublin. Image: Alamy Stock Photo DETAILS OF EU and Irish sanctions against Russia will be confirmed later today, Finance Minister Paschal Donohoe has indicated.
The sanctions come after Russian President Vladimir Putin ordered troops into separatist regions of Ukraine, prompting fears about a full-scale invasion of the independent country.“An element of that will be to break and challenge the links between the finance and capital markets of the European Union and Russia. So there will be elements of that that will be included in the package of measures that will be confirmed by the European Union later on today,” he said.
“If you look at where our economy stands overall, our exports to Russia are approximately 1% of our national income. Our imports from Russia are approximately 0.5% of our national income. But inside that 0.5%, there are sectors that do have a little bit more of a reliance on Russia than other sectors would.
Yesterday, UK Prime Minister Boris Johnson said that that three oligarchs linked to the Kremlin and five smaller Russian banks were being targeted in the “first barrage” of UK sanctions against Russia.
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