𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Sir Keir Starmer and Emmanuel Macron will co-host a summit in Paris on Friday focused on efforts to reopen the Strait of Hormuz.

It comes as Donald Trump’s blockade of they key shipping lane for oil and gas came into effect.

The US President threatened to stop tankers from entering or leaving the key oil and gas shipping lane in response to the failure of talks with Iran, a move which has again caused fuel prices to spike.

It comes as Chancellor Rachel Reeves said families and businesses across Britain are bearing the cost of instability “they did not cause” as a result of the conflict in the Middle East.

Ms Reeves made her comments ahead of the International Monetary Fund’s spring meetings in Washington DC, where she is set to urge coordinated action to tackle the global economic shock caused by the war.

The IMF is due to publish its world economic outlook later, with updated growth and inflation forecasts around the globe.

Ms Reeves said: “Families and businesses across Britain are bearing the cost of instability they did not cause. These are not costs I wanted, but they are costs we will have to respond to.

“The Iran conflict must be a line in the sand on how we deal with global crisis and instability.

“I will go to America with a clear message: global leaders must take co-ordinated economic action and supercharge the path to energy security to protect ourselves in the future.”