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It has been over two months since the start of the invasion by Russia into Ukraine on the 24th of February 2022. As the tensions began to build before the invasion, the Member States of the European Union and the United Kingdom had been threatening to impose sanctions on Russia in the event that they invade Ukraine. Both the European Union and the United Kingdom were quick to enforce the sanctions once military operations commenced.
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The Brexit Transition period ends on December 31st 2020. As of January 1st 2021, the United Kingdom of Great Britain (UK) officially leaves the European Union (EU). Tradewin has identified some key areas that traders need to prepare for when the UK becomes a third country to the EU. These key areas need to be considered regardless if there is an agreement between the EU and the UK, as formalities at the borders will need to be completed.
In preparation for Brexit, the United Kingdom (UK) has published its Common External Tariff, scheduled to take effect on January 1st, 2021, at the end of the transition period established in the EU Withdrawal Agreement Bill.
