03:37 GMT +318 June 2019
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    Brexit

    London Faces Brexit Settlement Bill of Some $62Bln After Triggering Article 50

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    The United Kingdom may have to pay a settlement fee of up to $62 billion for outstanding liabilities after triggering Article 50 of the EU Lisbon Treaty, local media reported Thursday.

    MOSCOW (Sputnik) — The reported calculation is believed to include the obligation of the United Kingdom to pay into EU budget until the end of 2020, to cover outstanding pensions liabilities and other payments related to loan guarantees, according to Sky News.

    In June, the United Kingdom voted in a referendum to leave the European Union. Soon after the referendum, UK Prime Minister Theresa May said that the country would trigger the Article 50 by the end of March 2017, thus beginning withdrawal negotiations.

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