Brussels, September 27 (RHC/Xinhua) -- The European Union (EU) decided to suspend restrictive measures against the Revolutionary Armed Forces of Colombia (FARC) on Tuesday, after the rebel group signed a peace agreement with the Colombian government.

"This decision will allow us to support the post-conflict program and will be of benefit to all Colombians," EU foreign policy chief Federica Mogherini said on social media.

The FARC, Colombia's largest rebel group, reached an agreement with the Colombian government on Monday in Cartagena on a peace deal to end more than 50 years of armed conflict.

The FARC has been listed on an "EU terrorist list" since June 2002. The EU had applied restrictive measures against the organization, such as freezing its assets and prohibiting EU citizens and organizations from providing it with funding or resources.

According to Belgian media Politico, the EU has pledged to provide 575 million U.S. dollars to support the implementation of the peace process.