LONDON: Britain and the European Union on Thursday broke up their latest round of post-Brexit trade negotiations by ruling out a quick deal but voicing hope for agreement in the coming months. Prime Minister Boris Johnson had promised last month to add "a bit of oomph" to the stalled negotiations when he personally joined them last month.

His main goal then was to get a framework deal struck by the end July that could assure UK businesses they do not have to start preparing for a messy no-deal breakup when the current transition period ends on December 31.

But the sides' chief negotiators said this was unlikely because of a fundamental gap on major areas such as fishing rights and fair competition rules. "It is unfortunately clear that we will not reach in July the 'early understanding on the principles underlying any agreement," Britain's David Frost said in a statement.

He accused the EU of failing to recognise Britain's economic and political independence and described the gulf between the sides on some points as "considerable". Frost's counterpart Michel Barnier criticised London for refusing to move on its red lines.

"By its current refusal to commit to conditions to open and fair competition, and to a balanced agreement on fisheries, the UK makes the trade agreement at this point unlikely," he told a news conference. A senior British government official said the sides will try to agree the shape of a potential accord - now more likely to look like one big deal than lots of small ones - at informal talks in London next week.

The British side said it expects "textured" talks on the finer details to begin in mid-August and run though September. Britain followed through on the results of a deeply divisive 2016 referendum and left the EU after almost half a century of integration on January 31.

It marked a moment of personal triumph for Johnson - a major player in the "Leave" campaign - after he managed to strike and ram though parliament an EU divorce deal that had painfully evaded his predecessor Theresa May. Britain remains bound by the bloc's rules until December 31 pending the outcome of negotiations about its future relationship with its largest trading partner. Johnson decided last month against extending the transition because of its political risks.