Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Deputy. Regarding the Private Members' legislation to which the Deputy referred, it is appropriate that there would be pre-legislative scrutiny by the committee. I understand that has now been concluded. I look forward to the report being completed and furnished. It will be given early consideration. I note the Deputy's welcome of the decision of the NTMA regarding the divestment of certain assets, which was publicly notified in recent days.

The point I am making is that when it comes to foreign policy and security matters, they are dealt with by the EU Foreign Affairs Council. That is where the instigation of any EU-wide initiative regarding new sanctions would generally come from, rather than the economic committee which will deal with and consider the economic consequences. The political initiative and decision of foreign affairs and security matters, the very issues the Deputy has raised, would fall under the Foreign Affairs Council of the European Union.

See this speech in context