19:41 GMT +319 June 2018
Listen Live
    Arrangement of British 10 and 20 pound bank notes

    UK Ready to Pay EU Up to $47 Bln Under Brexit Divorce Bill - Reports

    © AFP 2018 / BEN STANSALL
    Get short URL

    The United Kingdom is ready to pay the European Union up to 36 billion pounds ($47 billion) in accordance with London's financial obligations which are a result of its EU membership, local media reported Saturday citing government sources.

    MOSCOW (Sputnik) — According to The Telegraph newspaper, such an offer in the only way out from the current deadlock in Brexit negotiations with Brussels.

    London is ready to pay this sum if Brussels agrees to negotiate the financial settlement as part of an agreement on future UK's relations with the bloc, including a trade deal, Whitehall sources told the media outlet.

    In May, The Financial Times newspaper reported that the European Union increased its demands regarding UK financial obligations up to some $109 billion, compared to some $64 billion announced by European Commission President Jean-Claude Juncker in early March. UK Brexit Secretary David Davis then said that London may withdraw from Brexit talks with the European Union if Brussels retains its requirement for the United Kingdom to pay over $109 billion. However, Brussels has not submitted its final demand yet.

    UK Foreign Secretary Boris Johnson said in July that the amount of money the European Union could demand from the United Kingdom as a Brexit divorce payment was "extortionate."

    Another source confirmed the media outlet that the final sum of the deal amounts to $35-47 billion.

    Brexit negotiations officially started on June 19, when Davis arrived in Brussels to negotiate the terms with EU’s chief negotiator Michel Barnier. The talks are expected to concluded by the end of March 2019.


    UK Car Market Faced 9.3% Decline in July Amid Brexit Uncertainties
    Economic Consequences of Brexit-Related Uncertainties Start to Build
    UK to Allow EU Citizens to Fish in EU Territorial Waters After Brexit
    payment, Brexit, EU, United Kingdom
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment