“In the EU, we are only as strong as our weakest link.” These words were spoken by European Commissioner Mairead McGuinness, highlighting the importance of due diligence for EU firms when exporting outside of the trade bloc. McGuinness addressed concerns regarding the significant increase in Irish exports to countries with ties to Russia.
A recent investigation by the Sunday Independent brought to light a shocking surge in exports to markets where there is a potential risk of sanctions against Russia being bypassed. The value of Irish goods exported to these markets saw an astonishing rise of up to 3,000%.
As the EU official responsible for sanction implementation, McGuinness underscored Russia’s attempts to evade sanctions as the EU strengthens them. She emphasized that EU businesses must conduct thorough due diligence when exporting beyond the EU borders.
McGuinness’s team within the commission is actively working to provide support to member state authorities and economic operators in navigating EU sanctions. According to a spokesperson from the European Commission, abnormal and skyrocketing trade figures for specific products or countries serve as concrete evidence of Russia’s ongoing efforts to circumvent EU sanctions.
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