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Investigates Investigates Money Diaries Daft.ie Property Magazine Allianz Home Magazine The 42 Sports Magazine The Journal TV Climate Crisis Cost of Living Road Safety Newsletters Temperature Check Inside the Newsroom The Journal Investigates The Explainer A deep dive into one big news story Sport meets news, current affairs, society & pop culture have your say Or create a free account to join the discussion Advertisement More Stories Labour Party TD Marie Sherlock with protestors outside the Central Bank of Ireland. March, 2025.Rollingnews.ie Government to block bill to prevent sale of Israeli 'war bonds', despite favourable legal opinion Pressure has been building on the Government to intervene in relation to the facilitation of the sale of Israeli government bonds. 8.55pm, 27 May 2025 Share options THE GOVERNMENT WILL block a bill from Sinn Féin that would stop the Irish Central Bank facilitating the sale of Israeli “war bonds” across the EU. This is despite a legal opinion from the Oireachtas Office of Parliamentary Legal Advisers, seen by The Journal, which says the legislation would be constitutional. It is understood that the Government will oppose the bill because it has received preliminary advice from the Attorney General that suggests key provisions of the bill “may be unworkable” and may conflict with our obligations as a member of the European Union. The Government is also of the view that the bill, the Restrictive Financial Measures (State of Israel) Bill 2025 , does “not achieve its stated aims of preventing the issuance of securities or bonds from the State of Israel”. Sinn Féin’s finance spokesperson, TD Pearse Doherty, will introduce the bill to second stage of the Dáil later tonight. It comes as pressure has been mounting on the Government to introduce legislation of this kind in response to Israel’s actions in Gaza and the West Bank. Explainer: Why are pro-Palestine groups calling for Ireland to prevent the sale of Israeli ‘war bonds’? If enacted, the Sinn Féin bill would give the Minister for Finance the power to stop the Irish Central Bank from facilitating the sale of Israeli government bonds across the EU. Since October 7 2023, Israeli government bonds have been used to fund the State’s war against Hamas, leading some to dub them “Israeli war bonds”. Advertisement The Irish Central Bank has a special role in facilitating their sale in the EU. To be sold in the EU, bonds from non-EU countries must have their bond prospectus (a legal document setting out details of the bond) approved by the Central Bank of a country that is in the EU. Before Brexit, the UK carried out this work for Israel. After they left the EU, Israel chose Ireland to be its ‘home country’ for this purpose, meaning the Irish Central Bank is responsible for approving its bond prospectus. Pro-Palestinian campaigners and most Opposition political parties in Ireland argue that by carrying out this work, Ireland is facilitating Israel’s actions in Gaza. Their argument is that the Central Bank is allowing Israel to raise money for its war effort by enabling the sale of bonds through approving the country’s bond prospectus. Over the last year, there has been a growing campaign calling on the Central Bank to stop approving the sale of the bonds in the EU. However, the Central Bank has said it can only do this where it has the legal basis to do so i.e. in a situation where sanctions are introduced against Israel at an EU level or where there are “National restrictive measures to the same effect”. Sinn Féin’s bill today is an effort to introduce national legislative measures that would enable the Central Bank to act. Asked about the bill in the Dáil earlier today, Taoiseach Micheál Martin said: “The legislation tabled by Sinn Féin is simply unworkable. It has been written in a manner that in no shape or form could ever be made workable.” Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Support The Journal Jane Matthews Send Tip or Correction Embed this post To embed this post, copy the code below on your site Email “Government to block bill to prevent sale of Israeli 'war bonds', despite favourable legal opinion”. Recipient's Email Feedback on “Government to block bill to prevent sale of Israeli 'war bonds', despite favourable legal opinion”. Your Feedback Your Email (optional) Report a Comment Please select the reason for reporting this comment. Please give full details of the problem with the comment... 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