Until 2014, Russian financial institutions were spreading their wings around the world, and were, like others in the industry, increasing their use of Irish corporate structures to access global capital markets and manage overseas business interests.  Spurred on by the state or the so-called oligarch capitalists who own them, Moscow-based banks established dozens of Dublin subsidiaries, either to issue bonds or to act as holding companies for others further afield. Trinity College researchers focusing on Irish vehicles raising capital for Russian firms under Section 110 of the tax code between 2007 and 2015 found that they had raised  €103 billion…

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