Trade with Russia
Deputy Burke asked what action the Government would take against companies in Ireland continuing to trade with Russia. The Minister said EU sanctions are targeted, do not ban all trade, and companies must decide whether to continue.
It was reported this morning that a French yoghurt company, Danone, has made €3 billion profit from trading in Russia since the start of the conflict in Ukraine. That company has strong connections to Ireland. What action is the Government taking in respect of companies that are based in Ireland and have continued to trade in Russia, in view of the commitments given that we would disconnect from Russia while this conflict continues?
Comment on this
As the Deputy knows, the EU has to date adopted 11 packages of sanctions in response to Russia's illegal and unjustified war of aggression in Ukraine. The trade measures linked to those sanctions are sophisticated and targeted but do not prohibit all trade. Individual exporters need to decide whether to continue to trade with Russia when such trade is not prohibited in the sanctions to which we have signed up. Of course, they also must factor in other considerations, including how the consumers of their products will respond to their continuing to trade and make profit from the Russian market.