Irish-registered entities called limited partnerships are being marketed in Russia, Ukraine and central Asia as de facto offshore vehicles suitable for holding assets in ways that hide the identity of their true owners. Photograph: iStock
The Government has rightly adopted a generous attitude towards the Ukrainian people fleeing the violence of the Russian army. Now it should introduce legislative changes to target the people who benefit from the corrupt nature of the Moscow government. There are two linked areas of Irish law that require change. One is the use of this jurisdiction by people in Russia and other former Soviet republics as a type of offshore island within the European Union.
Most of the Irish economy is based on US companies using these devices to avoid tax and regulation. Without them, we'd be back in the famine. Islamist terrorists use them too.