British PM Keir Starmer hosts energy, shipping and finance chiefs to discuss the economic fallout from the Middle East war and Iran’s Strait of Hormuz closure.
LONDON: Prime Minister Keir Starmer will on Monday host a high-level roundtable with industry leaders to discuss the economic impact of the Middle East war.
The meeting at Downing Street will examine the fallout from Iran’s effective closure of the vital Strait of Hormuz, which has driven up global oil prices and costs.
Participants will include representatives from energy giants Shell, BP and Centrica, as well as shipping firms Maersk and CMA.
Senior executives from banks HSBC and Goldman Sachs will also attend, alongside officials from the Lloyd’s of London insurance marketplace.
“The roundtable will include an operational update from Commander Maritime Operations,” a statement from Starmer’s office said late Sunday.
“He will set out the maritime security picture in the Strait of Hormuz and the wider Middle East, which is having a direct effect on shipping.”
Downing Street said it wanted to “hear directly from industry leads” and “set out the situation in the region”.
“They will discuss how the government and private sector can work together as the conflict continues to have a significant impact on the British people back home,” it added.
“The prime minister will reiterate that the best way to reduce the impact of the war on the cost of living is de-escalation.”
Separately on Monday, Starmer will launch his Labour party’s local elections campaign ahead of polls on May 7.
The UK leader will defend his decision to keep Britain out of offensive operations in the joint US-Israeli war on Iran.
“We will protect our forces, our people, our allies in the region,” Starmer was set to tell a launch event in the West Midlands.
“But I made the decision that it is not in our national interest to commit British forces to a war, without a clear legal basis and a clear plan — and I stand by that.”
