Written answers

Tuesday, 15 January 2019

Department of Foreign Affairs and Trade

Pension Provisions

Photo of John BradyJohn Brady (Wicklow, Sinn Fein)
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160. To ask the Minister for Foreign Affairs and Trade the arrangements that can be made to facilitate a contributory pension payment by international bank transfer for a person (details supplied) should the person decide to move back to Iran after living here for over 30 years further to recently becoming homeless; and if he will make a statement on the matter. [1161/19]

Photo of Simon CoveneySimon Coveney (Cork South Central, Fine Gael)
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Transfer of funds to and from Iranian financial institutions has been an area of difficulty for individuals and companies for some years. This arose originally because of the role of the relevant Iranian banks in evading international sanctions on sales of weapons and controlled technologies.

This problem had begun to ease following the removal of many sanctions in 2016, but has now come to the fore again following the re-imposition by the United States of national sanctions on Iran. These do not prohibit all financial transfers, but there has been a general chilling effect on the willingness of many European banks to handle funds going to or from Iran. EU sanctions have not been re-imposed.

Work is ongoing at EU level, including in discussion with other states, to devise means to allow such transfers to continue without going through the US financial system. This is a complex and difficult area, but it is being actively and urgently pursued. I have reported to the Dáil from time to time on these efforts.

However, it is not possible for me or my Department to give individual financial advice to persons on how to carry out transfers of funds in relation to funds they may receive in Irish bank accounts. I would suggest that the person concerned might best take this forward by discussing the matter with the body which would be paying such a pension, and with their own bank.

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