The British authorities and the European Union managed to agree on a Brexit deal after months of tense negotiations. Sky TV correspondent Joe Pike announced this on his Twitter.
“URGENT NEWS: 10 Downing Street source said: “Deal reached,” he wrote. The journalist added that another of his sources said negotiations were still ongoing.
Britain officially left the European Union on Feb. 1. Until the end of 2020, the parties agreed on a transition period, during which the United Kingdom will continue to operate most EU laws: including trade rules. Before the end of the transition period, Brussels and London were supposed to agree on the format of the future relationship and conclude a new trade agreement.
However, negotiations have repeatedly stalled. The British government even stated that it was ready for Brexit without a deal with Brussels. If the parties fail to reach an agreement by the end of December, Britain will cease to be part of the common European market, leading to the introduction of customs borders between the country and the EU.