The U.S. will cut off aid to Egypt following the July coup that ousted Egyptian President Mohamed Morsi, CNN reports.
In the wake of the bloody ouster of Morsi and violence in the aftermath of the overthrow, there was much hand wringing in Washington over what exactly to call the change in power because, as the New York Times reported at the time, “under United States law it has no choice but to cut off financial assistance to the country if it determines that he was deposed in a military coup.” The stakes were, and continue to be high both politically and economically. Since 1979, Egypt ranks second, trailing only Israel, in American aid and Obama’s budget for this fiscal year amounted to $1.55 billion for Egypt, with $1.3 billion for the military and $250 million for economic aid, according to the Times.