The Council today decided to revoke the EU framework for sanctions against persons identified as responsible for the misappropriation of Egyptian state funds, and, to that effect, to lift the restrictive measures currently in force against nine Egyptian individuals.
Restrictive measures were initially adopted in 2011 and aimed notably at assisting the Egyptian authorities with the recovery of misappropriated state assets.
The measures consisted of an asset freeze imposed on the assets of the listed individuals located in the EU. In addition, nationals from EU member states and legal entities incorporated in the EU were forbidden from making funds available to those listed, either directly or indirectly. Since 2011, sanctions have been reviewed on an annual basis, with some individuals having been delisted over time.
Following the most recent review of the nine listings still in force, the Council concluded that the regime had served its purpose.
EU restrictive measures are not punitive. They intend to bring about a positive change in the third countries concerned. The EU’s sanctions regime related to the misappropriation of Egyptian state funds served to promote the objectives of the EU-Egypt partnership in the context of the Common Foreign and Security Policy.