The EU will reportedly issue a fourth round of sanctions against Iran on Monday as it works to list Tehran's Revolutionary Guards (IRGC) as a terrorist organisation.
The bloc will add 37 individual entries to its sanctions over human rights violations, two sources told Reuters.
“We believe we should already start working on the fifth one to list IRGC as a terrorist organisation,” said one of the sources, an EU diplomat.
Iran has warned the EU against such a move, claiming Europe “would shoot itself in the foot” by sanctioning the IRGC — the backbone of Iran's regime.
The EU says the group, which yields major economic and military influence in Iran and the wider Middle East, is responsible for both the crackdown on protesters and drone supplies to Russia.
Its Basij paramilitary force is especially notorious for gunning down protesters, who have been killed in their hundreds since demonstrations began in September.
Both Germany and France have publicly pushed for the IRGC to be designated by the EU.
Listing the group as a terrorist organisation is “politically important and makes sense”, German Foreign Minister Annalena Baerbock said earlier this month.
The sanctions would mean the IRGC members would not be allowed to travel to the EU and any European assets would be frozen.
“It has to be legally sound and that is being discussed right now. But it won't be ready for Monday,” the diplomat said.
The IRGC has plotted global terrorist attacks and has ramped up its influence in the UK, US and Europe, said a recent report from the Tony Blair Institute for Global Change.
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7.05pm: Al Rashidiya Group 2 (TB) $250,000 (Turf) 1,800m
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7.40pm: Meydan Cup Listed Handicap (TB) $175,000 (T) 2,810m
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9.25pm: Al Shindagha Sprint Group 3 (TB) $200,000 (D) 1,200m
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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