The European Union (EU) could impose retaliatory measures or sanctions against the UK if it fails to fulfill its obligations under the post-Brexit agreement.
France Secretary of State for European affairs, Clement Beaune said this on Tuesday.
EU lawmakers are expected later in the day to formally ratify the deal that will govern London-Brussels relations after Brexit. It has already been ratified by the UK Parliament and conditionally came into force pending the European Parliament’s approval.
“A good deal is only good when it is well executed. And we will check if the UK is serious about it. We can respond, retaliate … if the UK does not fulfill its obligations.”
Beaune noted that legal procedure that could lead to sanctions against London had been launched. The senior diplomat added that while the UK was expecting sanctions in the finance sector, there would not be any until fishing and other issues were resolved.
“Today, the European Parliament will vote, which will allow (the deal) to enter into its full force. This will not change anything for companies that, for example, are exporting to the UK. Everything will continue, as it was since January 1. But this is important, it gives us a weapon to respond if the UK does not fulfill all of its obligations.”
The UK left the European bloc on January 31, 2020, triggering an 11-month transition period that gave both London and Brussels time to conclude a range of agreements, including a free trade deal.
After months of negotiations, both parties reached a trade deal on December 24, avoiding the prospect of a no-deal Brexit with just one week to spare.
Following the controversial divorce, the European bloc immediately imposed full border controls for goods crossing the English Channel to the continent, with the UK manufacturing and fishing industries complaining that the paperwork and the delays are making them lose money and potential clients.
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