UK and allies condemn Iran’s attacks and will ‘appropriate efforts to ensure safe passage through the Strait – London Business News | Londonlovesbusiness.com

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Sir Keir Starmer has joined the leaders of France, Germany, Italy, the Netherlands, and Japan in issuing a joint statement that condemns the Iranian attacks on vessels and the blockade of the Strait of Hormuz affecting commercial shipping.

This warning comes after UK Defence Secretary John Healey announced plans to “step up” defensive support for Gulf states following Iran’s strikes on energy sites across the region, which represent a “serious escalation” of the conflict.

The markets reacted sharply, with Brent crude oil prices surging by around 7%, crossing $114 (£85) a barrel on Thursday morning.

This is close to the highest level seen since the conflict escalated at the end of February, raising concerns about significant disruptions to global energy supplies.

In a statement, the six leaders said: “We condemn in the strongest terms recent attacks by Iran on unarmed commercial vessels in the Gulf, attacks on civilian infrastructure including oil and gas installations, and the de facto closure of the Strait of Hormuz by Iranian forces.

“We express our deep concern about the escalating conflict.

We call on Iran to cease immediately its threats, laying of mines, drone and missile attacks and other attempts to block the Strait to commercial shipping, and to comply with UN Security Council Resolution 2817.

“Freedom of navigation is a fundamental principle of international law, including under the United Nations Convention on the Law of the Sea.

The effects of Iran’s actions will be felt by people in all parts of the world, especially the most vulnerable.

Consistent with UNSC Resolution 2817, we emphasise that such interference with international shipping and the disruption of global energy supply chains constitute a threat to international peace and security. In this regard, we call for an immediate comprehensive moratorium on attacks on civilian infrastructure, including oil and gas installations.

We express our readiness to contribute to appropriate efforts to ensure safe passage through the Strait.

“We welcome the commitment of nations who are engaging in preparatory planning.

We welcome the International Energy Agency decision to authorise a coordinated release of strategic petroleum reserves.

We will take other steps to stabilise energy markets, including working with certain producing nations to increase output.

We will also work to provide support for the most affected nations, including through the United Nations and the IFIs.   Maritime security and freedom of navigation benefit all countries.

We call on all states to respect international law and uphold the fundamental principles of international prosperity and security.

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