Cormac Devlin (Dún Laoghaire, Fianna Fail) | Oireachtas source

I welcome the opportunity to examine the Finance (State Guarantees, International Financial Institution Funds, and Miscellaneous Provisions) Bill 2023. Since Russia’s illegal invasion and brutal war on Ukraine escalated in February 2022, which began in 2014, the international community has come together in solidarity to support the people of Ukraine. This legislation will formalise Ireland’s full participation in important multinational supports to Ukraine.

I visited Ukraine in August 2022 as part of a delegation of parliamentarians from across Europe. I witnessed the devastation and human suffering wrought on Kiev and other cities by Russia. Homes, schools, crèches, businesses and industries were all targeted and destroyed during the Russian invasion. We have seen recently Russian elites arguing for an acceleration of this policy of destruction with the aim of destroying the people of Ukraine and turning the country into a wasteland. Europe and the international community cannot allow this to stand and must continue to support the people of Ukraine as they resist Russian aggression.

Equally, we must support other victims of Russian aggression. Russia has attempted to weaponise energy, people and food. We see its efforts to destabilise parts of the Middle East, Asia and Africa by interrupting food supplies and creating instability via their private military contractors, such as the notorious Wagner group. These policies are intended to destabilise states and result in the movement of people as they flee the chaos, violence and economic instability.

Closer to home we have seen the impact of Russian policy in our energy prices, migration challenges and its meddling in Western democracies. This Bill is an important step in Ireland’s contribution to supporting international efforts to combat Russia’s aggression and to support and rebuild Ukraine. The cost of the damage caused by Russia's invasion of Ukraine is estimated to be almost €150 billion.

As mentioned, the importance of EU macro financial assistance to Ukraine cannot be overstated. It is playing a key role in helping the Ukrainian Government to maintain a basic level of state services for the people of Ukraine in the most difficult and traumatic circumstances. It is critical that Ireland participates fully in this initiative, which clearly demonstrates the solidarity of the EU with Ukraine. I welcome the outcome of the recent meeting of European foreign affairs ministers held in Ukraine, attended by the Tánaiste, Deputy Micheál Martin, and their commitment to stand with the people of Ukraine for as long as Russia’s war continues.

I welcome the introduction of this legislation and I hope it will be supported by all Deputies across the House.

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