Tánaiste Simon Harris is expected to update the Cabinet today on the measures the European Commission proposes to take to increase pressure on Israel over its actions in Gaza and the West Bank.
Speaking on his way into Cabinet, Mr Harris said: "If there's a qualified majority in favour of these sanctions, they can come into effect almost immediately, but it requires the convening of the Member States.
"As of now, there isn't a regular Foreign Affairs Council due until the end of October. That is simply too long to wait."
Mr Harris said he expects the measures would have significant impact.
"What we certainly know is that they would very significantly alter the trading relationship between Israel and the European Union, that would end any preferential trade treatment with Israel, and would result in very significant tariffs.
"Effectively, the economic impact of this on Israel could be very significant, and therefore, I think could be very helpful in terms of trying to change the calculus that Netanyahu has around the continuing genocide in Gaza," he added.
Yesterday, an independent UN commission report concluded that Israel has committed and continues to commit genocide against Palestinians there.
The EU's High Representative for Foreign Affairs and Security Policy, Kaja Kallas, has proposed suspending a preferential tariff rate given to Israel by the EU as part of the Association Agreement.
The move is its strongest action over the war in Gaza, but the measures will struggle to be adopted due to reluctance from key member states.
"I want to be very clear, the aim is not to punish Israel. The aim is to improve the humanitarian situation in Gaza," Ms Kallas said.
"The war needs to end. The suffering must stop, and all hostages must be released."
Meanwhile, PBP Solidairty TD Ruth Coppinger has said that after the UN judgement that Israel is committing genocide in Gaza, the Government now has no excuse not to take action over Israel.
Speaking on the plinth where she was outlining her party's priorities for the new Dáil term she said the Government has to act.
"We want a committment from Simon Harris and Micheál Martin about the full undiluted passing of the Occupied Territories Bill and we want real action taken about Shannon Airport, which has become an effective military hub for the US army and overhead flights, and also our trade with Israel."
She said the Government should act unilaterally on trade now.
Taoiseach to face Opposition questions as Dáil returns
The Cabinet will meet at Government Buildings in Dublin ahead of the Dáil returning following its summer recess.
Taoiseach Micheál Martin will face questions from Sinn Féin leader Mary Lou McDonald, Labour leader Ivana Bacik, the recently returned Social Democrats leader Holly Cairns, and some Independents.
It is expected that the recent hike in electricity charges will lead to renewed Opposition demands for a new cost-of-living package in next month's Budget.
The Government has made it clear that it opposes another round of electricity credits, preferring to introduce targeted measures instead.
The Dáil is due to hear statements on the new National Human Rights Strategy for Disabled People, which runs from 2025-2030.
Sinn Féin is also bringing a private members motion this evening relating to special education school places.
PBP Solidairty TD Ruth Coppinger said they will be raising disability and 'Justice for Harvey'.
Nine-year-old Harvey Morrison, who had spina bifida and scoliosis, died in July.
Harvey's parents Stephen Morrison and Gillian Sherratt have said he waited years for a spinal operation, and only got one last November when the curve in his spine had reached 130 degrees.
Last year, they said that he had been removed from a Children's Health Ireland (CHI) waiting list for urgent scoliosis surgery without their consent or knowledge. He was first placed on the waiting list in February 2022.
He died on 29 July and his mother said earlier this month that they did not have a cause of death.
Ms Coppinger said Harvey's death was a turing point and there must be a public inquiry into Children's Health Ireland and into spinal sugeries that is parent-led and does not keep them in the dark.
She said racist attacks during the summer is something they will also raise in the Dáil.
'Major response' in attracting top researchers to Ireland
The Minister for Higher Education will tell Cabinet that there has been major response to the Government's efforts to attract top international researchers to Irish universities.
The aim is to increase research on strategic areas of importance to Ireland.
Minister James Lawless will inform colleagues that the first stage of the process has been completed and there have been 174 expressions of interest.
There has been a notable response from researchers in the US and UK.
Around 70% of the applications are STEM-focused, while 25% are proposals on Arts, Humanities, and Social Sciences.
Research Ireland is now reviewing the expressions of interest and full proposals will be submitted in October.
Additional reporting: Colman O'Sullivan
