Oireachtas Joint and Select Committees

Wednesday, 6 July 2022

Joint Oireachtas Committee on European Union Affairs

European Union Humanitarian Crisis Response to Russia's Invasion of Ukraine: Department of Foreign Affairs

Photo of Simon CoveneySimon Coveney (Cork South Central, Fine Gael) | Oireachtas source

On the question concerning how we fund this new plan for reconstruction, we are open to what the Deputy suggested. It is, however, much more complex legally than might be thought. We must be consistent with what is legally sound as well. If we are calling out countries for breaching international law, then we must practise what we preach. I am very much open to the approach suggested by the Deputy. Russian aggression is causing all this. We must rebuild a country on the back of what Russia is responsible for in Ukraine in respect of its deliberate targeting of civilian infrastructure and all the other things that must be rebuilt. Therefore, if we are seizing assets, it makes sense that the value of those assets would be used to rebuild Ukraine. We asked the European Commission to work up some options in this regard consistent with our legal obligations. I expect it to respond with those options. I must be careful in giving out a figure in this regard, but we have seized somewhere between €1.5 billion and €2 billion in funds.

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