Minister for Finance Paschal Donohoe has said that if the Government can be of any assistance to Irish aircraft leasing companies impacted by the sanctions against Russia then they will do so.
While it was a commercial issue, officials from various Government departments were engaging with the companies involved, he told RTÉ radio’s Morning Ireland.
“We will monitor the issue. This is a really important sector.”
Mr Donohoe also said that he expected to see further sanctions by the EU against Russia in the coming days.
The EU was considering what further steps could be taken on top of the current sanctions which were the “most comprehensive list of sanctions ever.” Already their impact included the fall of the rouble and stock markets while the Russian central bank was unable to access foreign exchange reserves.
Hurting Russia
Any decisions in relation to Russian oil and gas would have to be made together, it would not be helpful if any country were to take unilateral actions, he said.
Mr Donohoe said that any action had to hurt Russia more than the EU. It was not a question of cost, it was about the impact on the Russian ability to finance the war.
The Minister said that oil and gas prices in Ireland would be kept under review by the Government, but that there were no further plans for additional measures until the next Budget in October.
The energy credit which would be paid shortly was a strong response, he said.
Budget 2023 would include extra measures if necessary. It was important to find ways to offer support to people experiencing difficulty with the higher cost of living. If necessary extra steps would be taken.
