The Tánaiste and Minister for Foreign Affairs Simon Harris has said he believes it is a "distinct possibility" that the European Union will suspend parts of a cooperation deal with Israel that allows for reduced tariffs on goods coming from the country.
Officials in Brussels say that would hit more than a third of Israel's exports to the EU worth around €6 billion, including key agricultural produce such as dates and nuts.
Speaking in the Dáil, Mr Harris said such a move would be "hugely significant" and has the "potential" to change Israeli Prime Minister Benjamin Netanyahu's "calculus" about the war in Gaza.
He said the Government here "can and will" take action at a national level on the Occupied Territories Bill, and said opposition leaders would be invited to a meeting with the Attorney General on the issue.
"If you want to make impact, the EU is the best way to do it," he said.
He was replying to the Labour leader Ivana Bacik who said Israel's genocide in Gaza was showing "intolerable levels of cruelty" with 65,000 people killed, according to the latest tallies from Hamas-run health authorities, and famine declared.
She said a UN commission's finding that genocide is taking place "should be a turning point for the world".
However, the Dublin Bay South TD said she recognised that encouragement from Germany and the United States was egging on the Israeli Prime Minister.
She called for the "urgent implementation" of the Occupied Territories Bill, both for goods and services.
"No country is too small to make an impact," Deputy Bacik said, adding that illegally gathered data by Israel of Palestinians was being stored in Ireland and should be stopped.
She also called on both the Taoiseach and Tánaiste to push the UN General Assembly to take action when they are in New York next week.
