Governor Gabriel Makhlouf will inform the Oireachtas Finance Committee that the responsibility for responding to breaches of international law by Israel lies with international bodies like the UN and the EU. He will clarify that the Central Bank cannot impose sanctions unless the EU has done so, noting that unlike the sanctions against Russia, there are currently none against Israel. Makhlouf expresses dismay over the violence in Gaza while stating that the Central Bank will follow EU directives for sanctions if established.
The Central Bank cannot impose sanctions on Israel... in circumstances where the EU has not imposed any such sanctions itself.
Unlike the EU sanctions against Russia after its invasion of Ukraine, the EU has not, at this time, adopted sanctions against the State of Israel.
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