Illustrated picture (Photo: AFP/VNA)

Michael Gove, UK's senior minister for Brexit, chaired further talks with EU leaders on Friday and said he had now formally confirmed that the UK will not extend the transition period and the moment for extension has now passed." He said on Twitter that on 1 January, 2021, the UK will take back control and regain their political and economic independence.

Top leaders of the UK and EU are scheduled to hold an online meeting next Monday to push bilateral trade negotiations, which have been at a standstill during the past 6 months.