Dáil Éireann Debate, Tuesday - 17 January 2017
325. Deputy Michael McGrath asked the Minister for Finance the amount of an authority's funds which are frozen here due to UN sanctions; the location the funds are held; the date from which they are frozen; the way the funds are managed; and if he will make a statement on the matter. [1861/17]
View answer326. Deputy Michael McGrath asked the Minister for Finance if he will provide a detailed breakdown, by financial institution, of any funds frozen here; the source of the funds, the reason the funds have been frozen and the date from which; and if he will make a statement on the matter. [1862/17]
View answerI propose to take Questions Nos. 325 and 326 together.
The EU implements restrictive measures autonomously at EU level or as a result of resolutions of the Security Council of the United Nations through the publication of EU Regulations. EU Regulations are binding on all Member States once published in the EU Official Journal and appropriate penalties for breach of the regulations are set by Member States.
The Central Bank is one of three competent authorities for the administration of EU restrictive measures in Ireland. The other Irish competent authorities are the Department of Jobs, Enterprise and Innovation and the Department of Foreign Affairs and Trade.
The EU Regulations commonly include an obligation for funds and other assets to be frozen without delay and not made available, directly or indirectly, to listed sanctioned individuals or entities. The competent authority for the administration and enforcement of financial sanctions which are concerned with curtailing the movement of payments and capital is the Central Bank.
The Central Bank has advised me that it is not in a position to provide the detail or information from regulated financial service providers in the format requested, due to the confidentiality requirements of Section 33AK of the Central Bank Act 1942 as amended. The Central Bank however has provided information in the table which relate to notifications received by the Central Bank from financial institutions in Ireland in respect of funds frozen, blocked or refused up until the end of 2016.
|
Regime |
Currency and amount Frozen/Blocked/Refused |
|
Al Qaida |
$1,219,932 |
|
Al Qaida |
PKR 53,612 |
|
Al Qaida |
€1 |
|
Iran |
$214,716 |
|
Iran |
GBP 687,427 |
|
Iran |
AUD 810 |
|
Iran |
AED 6,377 |
|
Iran |
€ 940 |
|
Libya |
XOF 780,000 |
|
Libya |
$ 1,664,292,092 |
|
Libya |
EUR 1,274,909 |
|
Syria |
$ 620,951 |
|
Syria |
ZAR 1,626.54 |
|
Other regimes such as Liberia/Burma/Myanmar Somalia/North Korea |
$ 8,246 EUR 3,809.00 PKR 297 KRW 50,000.00 |
