Former diplomat; author of Guerrilla Diplomacy
No, although the nature of the assistance and delivery mechanisms could be reviewed.
While the regime violence must be unconditionally condemned and the prospect of an aid cut off could be tabled, this seems to me a critical time for the international community to engage, rather than isolate or ostracize Egypt.
To help effect a change in behaviour, donors might first try offering incentives favouring national reconciliation and respect for democracy, civil liberties and human rights.
If that fails, other measures, including but not limited to an aid cut off, could be considered.