Brexit Uncertainty Negatively Impacts Russia-UK Trade - Russian Embassy

The inability of the UK government to agree on the terms for the United Kingdom's exit from the European Union is negatively impacting Russia-UK trade relations, the press secretary of the Russian Embassy in London said Friday

LONDON (UrduPoint News / Sputnik - 24th May, 2019) The inability of the UK government to agree on the terms for the United Kingdom's exit from the European Union is negatively impacting Russia-UK trade relations, the press secretary of the Russian Embassy in London said Friday.

Earlier in the day, UK Prime Minister Theresa May announced that she would resign as the leader of the ruling Conservative Party on June 7, which will automatically entail her resignation as the head of the government once a new prime minister has been appointed. During her press conference, May said she regretted her failure to deliver Brexit to the country.

"Of course, the [Russian] embassy, like other diplomatic missions, is closely monitoring the development of the situation.

The inability of the [UK] government and parliament to agree on the terms of [the country's] exit from the European Union is prolonging the feeling of uncertainty that, as far as we can tell, is having an especially negative impact on [the country's] economic activities," the press secretary told Sputnik.

The official added that the negative impact could also be felt in Russia-UK trade relations and that although cooperation on the level of large corporations continued between the two sides, new trade and investment contacts on the level of small and medium-sized business had stalled due to the uncertainty surrounding Brexit and the United Kingdom's future place in global trade.