Cian O'Callaghan (Dublin Bay North, Social Democrats)

I move:

That Dáil Éireann:

notes that: — Israel Sovereign Bonds, known as Israel Bonds, have, since 1951, raised funds for the Israeli Treasury for use across the Israeli economy including the Israeli military and the illegal settlements;

— Israel Bonds have since October 2023, been advertised as war bonds with the slogan "Stand with Israel – Israel is at War", and the website marketing the bonds contains a video by Israeli President, Isaac Herzog who lauds "the crucial role of Israel Bonds during this time of conflict and war";

— Israel Bonds are intended to fund what Israel calls "the war in Gaza", the State of Israel Bond Issuance prospectus explicitly refers to the decision of Israel's Ministerial Committee for National Security Affairs "to undertake military action, which resulted in drafting more than 300,000 reservists launching the war in Gaza";

— in January 2024, the International Court of Justice (ICJ) found that the Palestinian people in Gaza had "plausible rights" to be protected from the "imminent risk" of genocide;

— in June 2024, the United Nations International Commission of Inquiry on Palestine found that Israel's actions in Gaza "constitute the war crimes of wilful killing and mistreatment, and the crime against humanity of extermination";

— in July 2024, an ICJ advisory opinion declared that Israel's entire regime of military occupation of Palestinian territories is illegal and must end immediately;

— the same ICJ advisory opinion declared that Israel is in "breach of Article 3" of the International Convention on the Elimination of All Forms of Racial Discrimination which "condemns racial segregation and apartheid" and compels states to "undertake to prevent, prohibit and eradicate all practices of this nature in territories under their jurisdiction";

— Article 1 of the Genocide Convention requires states to undertake "to prevent and punish genocide", and under the Convention, states have a negative obligation not to commit or be complicit in genocide and positive obligations to prevent and to punish genocide;

— the obligation to prevent genocide and the corresponding duty to act starts, as the ICJ clarified in the Bosnia and Herzegovina v. Serbia and Montenegro case, "at the instant that the State learns of, or should normally have learned of, the existence of a serious risk that genocide will be committed";

— the ICJ's finding of "plausible rights" and "imminent risk" constitutes that knowledge of the risk of genocide triggers third states' legal obligations under the Genocide Convention;

— further reasonable grounds exist to believe crimes against humanity and war crimes are being committed by Israel in Gaza, given that arrest warrants have been requested by the International Criminal Court Prosecutor for key Israeli officials, the Prime Minister and Minister of Defence, including, inter alia for the crimes against humanity of extermination and persecution, and the war crimes of starvation, wilful killing, and the causing of great suffering or serious injury to body or health;

— on 5th December, 2024, Amnesty International concluded that Israel was committing genocide in Gaza;

— on 19th December, 2024, Human Rights Watch accused Israel of acts of extermination and genocide;

— on 19th December, 2024, Médecins Sans Frontières described the Israeli military actions in Gaza as ethnic cleansing and genocide;

— at least 54,500 people have been killed in Gaza since October 2023, and another 900 in the West Bank, 65 per cent of them are women and children;

— 2,180 families have been obliterated in their entirety, and 5,000 more have but a single family member surviving;

— 1,400 medics, 200 journalists, and 750 aid workers have been killed;

— on 2nd March, 2025, Israel imposed a total food and aid blockade flagrantly using starvation and denial of medical aid as a method of warfare, and on 18th March, Israel unilaterally broke the ceasefire killing more than 400 people in Gaza in one night;

— on 3rd May, 2025, Doctor Mike Ryan, executive director of the World Health Organization said "We are breaking the bodies and the minds of the children of Gaza. We are starving the children of Gaza because if we don't do something about it, we are complicit";

— on 5th May, 2025, Israel announced its intention to permanently seize territory in Gaza and forcibly displace the population;

— on 28th May, 2025, the Government voted against the Restrictive Financial Measures (State of Israel) Bill 2025, which was drafted by the Office of Parliamentary Legal Advisors and underpinned by a full legal opinion that would have given the Minister for Finance the explicit power to end Ireland's involvement with Israeli war bonds;

— all institutions are obliged under international law to prevent genocide and the abuse of human rights;

— the Central Bank of Ireland (CBI) in their response to the Oireachtas Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach on 4th December, 2024, stated that in their assessment the prospectus makes extensive reference to the war in Gaza and there is a clear and prominent discussion of the war in Gaza and the proposed use of the funds;

— the CBI also stated in their response to the Oireachtas Joint Committee on 4th December, 2024, that the advertisement material is not inconsistent with the information in the prospectus;

— the CBI Governor, has said that the Central Bank can only refuse the approval of a prospectus where it has a legal basis to do so;

— a compelling legal basis exists in the Genocide Convention and under International Humanitarian Law to refuse the State of Israel Bonds Issuance prospectus; and

— furthermore, the State of Israel Bonds Issuance prospectus is not complete, neither the January 2024 ruling of the ICJ in relation to the Genocide Convention, nor the July 2024 ICJ Advisory Opinion are not mentioned in the prospectus and this omission amounts to the deliberate with-holding of risk-related information; and calls on the Government to: — honour Ireland's obligations under the Genocide Convention and to fulfil the duty of the State to use all means likely to have a deterrent effect on those suspected of preparing genocide, or reasonably suspected of harbouring specific intent, dolus specialis, to prevent the genocide;

— honour Ireland's obligations under international humanitarian law;

— make a clear and unequivocal declaration of commitment to honour Ireland's obligations under the Genocide Convention, international human rights law conventions and customary international humanitarian law;

— advise the CBI that it is acting in violation of the Genocide Convention, by facilitating the sale of Israel Bonds in the European Union (EU);

— advise the CBI that by acting as the enabling cog in Israel's fund-raising machine in the EU it is putting the State at risk of a charge of complicity in genocide;

— insist that the CBI immediately end its facilitation of the sale of Israel Bonds; and

— enact emergency legislation to explicitly force the CBI to stop facilitating the sale of Israel Bonds.

I thank all the parties that have worked together on this cross-party motion. I especially thank the Ireland Palestine Solidarity Campaign and the activists in it who have been working for months to highlight and draw attention to the issue that Israeli bonds are being sold in Europe, facilitated by the Central Bank of Ireland. They have done excellent work on this.

Dr. Ali al-Najjar works in Sligo. A few weeks ago, nine of his nieces and nephews were killed by Israel. An airstrike on the home of his sister, a doctor in Gaza, killed her children while she was working in the emergency ward. Yahya, Rakan, Eve, Jubran, Ruslan, Revan, Sayden, Luqman and Sidra were all killed in the attack. The children were aged between six months and 12 years. Several were still in their pyjamas at the time of the attack. The children's father, who was with them at the time, has since died from injuries he sustained in the attack. He was also a doctor. We do not know if the munitions used in this brutal attack passed through Irish airspace on their way. What we do know is that these munitions were part financed by the sale of Israeli bonds. In Europe, those bonds are being sold with the facilitation of the Irish Central Bank. We also know the Irish Government is not willing to do anything about this. We have been asking it to do something.

Let us be clear about this: genocide is taking place and is being part-funded by the sale of Israeli bonds including in Europe, which is being facilitated by the Irish Central Bank. This motion seeks to end this and in order for it to succeed we need the support of TDs across the Dáil. What is happening in Gaza is absolutely and utterly horrific. I know that every TD in the Dáil has that view. Men, women and children are being starved to death. Food and aid has been blocked at the border by Israel. When tiny amounts of aid have been distributed and made available, people have been killed trying to access it. This is absolutely and utterly brutal. Mothers have been forced to boil grass to feed their children. Starvation is being used as a weapon of war against innocent people.

The governor of the Central Bank says it cannot act on this as it is beyond the bank's competency to decide whether genocide is taking place. However, in January 2024 the International Court of Justice confirmed the plausibility of the charges of genocide taken against Israel by South Africa. In recent weeks, the Irish Government has recognised that what is happening in Gaza is genocide. It has been clear about that. It is not simply enough for the Government to say that what is happening is genocide; it must act under the terms of the genocide convention. It must do everything it can to stop and prevent genocide in Gaza. Let us be very clear about this: the Israeli Government is selling these bonds to help to finance the genocide. It is the Irish Central Bank that is facilitating the sale of those bonds in Europe. There is a direct link between these bonds and the genocide that is taking place. This has to stop.

As a signatory of the genocide convention, the Irish Government and our public institutions including the Central Bank have a legal obligation to do everything they can to stop genocide. Not only have Ireland and other countries failed to put meaningful sanctions in place against Israel, but Ireland in fact is Israel's second largest trading partner in the world. By not backing this motion, the Government is missing an opportunity to take meaningful action against Israel. These bonds are explicitly marketed as being crucial to the war effort by Israel. Israel has run a marketing campaign imploring people to buy these bonds so they can stand with Israel. Over €3.34 billion has been raised through the sale of Israeli bonds since October 2023. One of the websites used to promote the sale of these bonds includes phrases such as "Israel is at war" and a quote from the Israeli President, Isaac Herzog, emphasising the crucial role of Israeli bonds during this time of conflict. Israel Bonds president and CEO, Danny Naveh, has told potential investors that purchasing the bonds is the best way to help Israel and support its war campaign. This is unequivocally clear.

Recently, the Tánaiste, Deputy Simon Harris, said that children are being left starving and even dying as we speak. He went on to say that we cannot and will not stand idly by and let this happen. I know that the Tánaiste and other Ministers and Government TDs mean these words when they say them. I know that. However, allowing the continued sale of Israeli bonds in Europe and allowing the continued facilitation of this by the Irish Central Bank is standing idly by. Allowing munitions destined for Israel through Irish airspace that are literally being dropped on children, men and women in Gaza - that is standing idly by. Voting against legislation to stop the facilitation of the sale of these bonds - that is standing idly by. If the Government does not like the legislation that was presented two weeks ago, it should pass this motion and enact its own emergency legislation, as the motion asks it to do.

There are no excuses not to act. Legal advice from the Office of the Parliamentary Legal Advisor concludes that we can provide restricted access to financial services based on public policy grounds, rooted in Ireland's pursuit of its international obligations. It is clear that this can be done in accordance with the Irish Constitution, European law and international law. There is legal advice from the Attorney General that states that the State can invoke justification grounded on public policy, based on the need to respect international law and the rights of those adversely affected, the Palestinian people. The Government has told us that legal advice was given by the Attorney General. I implore every TD in this Dáil. There should be a free vote this evening on this. Every TD should be allowed to vote with their conscience. We should send a very clear signal as a Dáil that not only are we united in standing against this genocide, but we are also united as a Dáil in wanting the Central Bank to stop facilitating these bonds and stop the financing of this genocide, which is happening in part through the facilitation of the sale of these bonds.

See this speech in context