Ian Guider: Sanctions on Russia mean we must be prepared to put our self-interest aside

It is estimated that more than €100bn of assets are held in brass-plaque entities registered in Ireland and backed by Russian companies, many linked to the Putin regime

The sweeping sanctions announced by the EU and the US in response to the invasion of Ukraine will shine a spotlight on the activities of Russian-backed but Irish-registered and domiciled companies. Picture: Getty

Back in early 2019, a top London law firm prepared a post-Brexit plan for one of the many banks that would have to leave the city to ensure it could continue to serve its European clients.

VTB, one of Russia’s largest financial institutions and 60 per cent state-controlled, needed to be certain its important commodities trading arm could access the European Union.

The law firm proposed a merger between one of VTB’s British units and ...