Egypt

Over the period of 30 years, former Egyptian President Hosni Mubarak, his family and close circle of advisers are alleged to have enriched themselves through partnerships in powerful Egyptian companies, profiting from their political power. While the illicit nature of the alleged activity makes it difficult to determine a precise figure, some estimates peg Mubarak’s family fortune as being between US $40 to $70 billion. Following the Egyptian revolution in 2011, the EU established misappropriation sanctions covering Mubarak, his family members and several high-profile officials. 1

Ten years after they were put in place, on the 12 March 2021, the EU revoked Egyptian misappropriation sanctions framework and delisted remaining nine individuals. 2