EU member states have agreed to suspend export licences for any equipment that could be used for repression in Egypt, but humanitarian aid will continue.
She said EU governments "feel very strongly that they want to continue to support vulnerable people in Egypt".
The foreign ministers met after a week in which more than 900 people have died in Egypt's political violence.
Lady Ashton said the EU would review its assistance to Egypt and was urging all sides to "stop the violence and provocations" and "engage in inclusive national dialogue, open to all".
Read more: BBC News - EU suspends arms sales to Egypt over crackdown
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