Britain’s Prime Minister Keir Starmer and European Commission president Ursula Von der Leyen at the European Political Community summit, in Tirana on May 16, 2025.
Leon Neal | Afp | Getty Images
The U.K. and European Union finally agreed to reset relations Monday, sources told CNBC, after Britain’s acrimonious exit from the European bloc in 2020.
U.K. Prime Minister Keir Starmer is hosting European Commission President Ursula von der Leyen and other senior officials in London for a much-anticipated summit which is taking place against a backdrop of unpredictable global dynamics — led by the U.S.
Talks between both sides intensified in the run-up to the gathering at Lancaster House in central London, with last-minute haggling over emotive issues, including a youth mobility scheme and fishing rights.
Three EU officials told CNBC Monday the global powers had reached a deal. One stated that reciprocal access to fishing waters had been agreed upon until June 30, 2038, with a deal also reached on energy cooperation and the conclusion of the security and defense partnership.
This is a developing story and will be updated shortly.