UK Starmer Rallies Business Leaders Over Economic Impact of Iran War

(MENAFN) British Prime Minister Keir Starmer convened an emergency roundtable with top industry executives at Downing Street on Monday, declaring that weathering the economic shockwaves of the Iran war demands a "joint effort" between the government and the private sector.

According to a report by a news agency, Starmer addressed assembled business chiefs with a candid acknowledgment of the government's limitations, telling them: "The government can't do it on its own."

The high-level gathering drew senior figures from Britain's energy, shipping, finance, and insurance industries, alongside government officials and military representatives, for a comprehensive assessment of the conflict's mounting economic consequences for the UK.

Starmer was unequivocal that Britain would not be dragged into direct military involvement in the war, while simultaneously pledging that London would "defend British interests and British lives in the region" and stand by its Gulf allies.

Of particular urgency was the fate of the Strait of Hormuz — one of the world's most critical commercial shipping arteries, effectively shuttered by Iran since the conflict's outbreak, sending oil prices sharply higher. The Prime Minister disclosed that the UK is actively "working on a viable plan for the Strait of Hormuz," signaling intensified behind-the-scenes efforts to restore the vital passage.

The strait's prolonged closure has stoked mounting anxiety over energy security and inflationary pressures, keeping businesses and policymakers across the globe in a state of heightened alert. Roundtable participants received a classified briefing on maritime security conditions across the broader Middle East region, with attendees spanning major energy corporations, leading banks, and prominent insurers — a lineup that reflected the sweeping breadth of economic exposure at stake.

Starmer also revealed the contours of a nascent international initiative he has been shepherding, stating he has been "bringing together a sort of coalition of countries around the notion that we do have to de-escalate and find a way forward."

The crisis traces its origins to the joint US-Israeli offensive against Iran launched on Feb. 28, which has killed more than 1,340 people to date — among them then-Supreme Leader Ayatollah Ali Khamenei. Tehran has since unleashed waves of retaliatory drone and missile strikes against Israel, Jordan, Iraq, and Gulf states housing US military forces, inflicting casualties, crippling infrastructure, and sending tremors through global markets and international aviation networks.

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