Ireland to move oil reserves from UK over Brexit

The Irish government is planning to move 200,000 tonnes of its oil reserves from Britain as part of its Brexit preparations and will sign off on the move this week, Ireland’s Sunday Independent newspaper reported.

Ministers will sign off on the decision to move the oil, which includes refined products, at a Cabinet meeting on Wednesday, the newspaper quoted an unnamed senior government source as saying.

Around 500,000 tonnes of Ireland’s 1.5 million tonnes of oil reserves are currently held overseas, the report said.

A government spokesman did not immediately respond to a request for comment.

Published: 16-07-2018