Oireachtas Joint and Select Committees

Wednesday, 9 March 2022

Committee on Budgetary Oversight

Pre-Stability Programme Update Scrutiny: Economic and Social Research Institute

Dr. Conor O'Toole:

Obviously, Ireland is not a major direct exporter of any particular products to Russia. We do not have a major direct trade in merchandise exports to Russia but we have an import dependency in the context of two items mentioned earlier, namely, fertilisers and the energy sector. Russia is not necessarily the largest trading partner but it is a large one. Naturally, if there were to be any rationing or halt in the trade flows by Russia on these items, that would cause disruption to the Irish ability to use those imports in the production process and that could be disruptive to our economic activity.