EU’s IRGC designation has painful ‘material consequences’ : Analysis

Brian Phillips, a professor at the University of Essex’s department of government, says the EU decision to list the IRGC as a “terrorist organisation” deals a powerful financial blow to the organisation in addition to its symbolic weight. “This is a significant escalation in Europe’s pressure against the Iranian regime,” Phillips told Al Jazeera. “Beyond the symbolic, there are material consequences, with banks in Europe now required to freeze any money associated with the IRGC, its members or its front organisations”, he said. “Unless that money was taken out yesterday, it’s going to be frozen, and the IRGC won’t be able to access [it] or move money within Europe.” Subscribe to our channel: http://bit.ly/AJSubscribe Follow us on Twitter: https://twitter.com/AJEnglish Find us on Facebook: https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/ Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/ Download AJE Mobile App: https://aje.io/AJEMobile #IRGC #EUIran #IranSanctions #EUForeignPolicy #IranPolitics #IRGCTerrorList #MiddleEastPolitics #IranRegime #AlJazeeraEnglish