From Egypt Independent: EU will keep Mubarak assets on ice

The European Union will continue to freeze the assets of former President Hosni Mubarak, his family and other former officials although Egypt has thus far been unsuccessful in recovering funds siphoned abroad by the regime.

The Illicit Gains Authority (IGA), the judicial committee responsible for recovering the money, on Wednesday received an official notification from the European Union, confirming its freeze on the assets would be renewed another year as of 19 March, state-run MENA news service reported on Wednesday.

“This was in response to a request by Egypt,” the state news agency quoted IGA head Assem al-Gohary as saying.

Egypt formally asked European Union countries earlier this month to continue freezing funds belonging to Mubarak, his two sons and other members of his administration.

(For more on this, please see: http://www.egyptindependent.com/node/725861)