EU extends Mubarak asset freeze by one year
Former President Hosni Mubarak - YOUM7 (Archive)
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CAIRO: The Council of the European Union decided to extend the current sanctions on assets belonging to former President Hosni Mubarak and 18 others for another year until March 22, 2016, according to a statement published on the UK Parliament March 11.

The EU freeze began in 2011, after Mubarak stepped down following the January 25 Revolution and in response to requests by the Egyptian side; the sanctions have been annually extended since then.

The EU decision consists the freezing of funds and economic resources of Mubarak and his family members, including both his sons Gamal and Alaa and his wife Suzanne, as well as other former figures of his regime.

“The Egyptian authorities have confirmed that judicial proceedings are continuing against all 19 individuals currently listed,” said David Lidington, the Minister for Europe in the EU statement.

He added that the extension “will allow investigations into the alleged corruption of listed individuals to continue; and also send a strong message of continued support for efforts to tackle the corruption of members of the former Mubarak regime and reclaim stolen assets.”

The retrial of the former president and his two sons Gamal and Alaa on charges of corruption is set to begin in April 4. An appeal against their acquittal on murdering protesters and bribery charges has been scheduled on April 2 to be deliberated by Egypt’s high court.

On March 19, Mubarak’s former Interior Minister Habib al-Adly was acquitted of charges of illicit gains, the last case he was facing, and was released from jail.

According to the list of names published on Youm7, the decision extends to former ministers and the recently released business tycoon Ahmed Ezz, whose convictions were canceled.

“Egypt remains the top priority of the U.K. Asset Recovery Taskforce,” said Lidington. He noted that there has been “significant work” undertaken to build Egyptian capacity and strengthen links between U.K. and Egyptian experts.

 

 

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