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EU to Unfreeze, Return Assets to Tunisia and Egypt - Corruption Currents - WSJ

rubenfeld

The European Union said Monday it will lift sanctions it placed on Egypt and Tunisia, and will assist in returning frozen assets to the country.

In a statement (pdf), the European Council of Ministers said a new legislative framework authorized EU member states to release frozen assets based on judicial decisions recognized in the states. Once the judicial steps are taken, the statement said, assets tied to the former regimes of Hosni Mubarak and Zine al-Abidine Ben Ali can be released to the new governments in each country.

The legislative framework will also facilitate the exchange of information between EU states and Tunisian and Egyptian authorities to help in civil asset recovery actions relating to misappropriated funds, the statement said.