Keir Starmer welcomes US-Iran ceasefire amid efforts to reopen Strait of Hormuz

Sir Keir Starmer has welcomed the ceasefire agreed between the US and Iran overnight and said it was an opportunity to secure a long-term solution for shipping through the Strait of Hormuz.

The Prime Minister is travelling to the Middle East on Wednesday, where he is expected to discuss diplomatic efforts to support and uphold the pause in fighting with leaders of Gulf allies.

The ceasefire announcement triggered a fall in global oil prices and an upswing in stock markets as investors breathed a sigh of relief following six weeks of economic turmoil.

The US-Israeli strikes on Iran and Tehran’s response, including targeting Gulf states and effectively closing the Strait of Hormuz – a key oil and gas shipping route – had sent fossil fuel prices soaring around the world.

Petrol and diesel costs for motorists in the UK have risen sharply since Donald Trump launched his military action.

On Wednesday, London’s FTSE 100 index of major firms jumped by as much as 2.6% at the start of trading on the back of the ceasefire announcement.

The price of benchmark Brent crude oil slid by 14.3% to 93.6 US dollars (£69.78) a barrel, although this was still well above the price of around 70 dollars at the start of the conflict.

Mr Trump had warned on Tuesday that “a whole civilisation will die” unless Tehran met his demands.

But less than two hours before his deadline passed for Iran to agree a deal, the US president said he was suspending his threat to widen the military offensive to power plants and bridges, subject to the strait reopening.

Sir Keir said: “I welcome the ceasefire agreement reached overnight, which will bring a moment of relief to the region and the world.

“Together with our partners we must do all we can to support and sustain this ceasefire, turn it into a lasting agreement and reopen the Strait of Hormuz.”

During his visit, Sir Keir is set to hold talks on reopening the Strait of Hormuz permanently.

He will set out the UK Government’s call for de-escalation in the Iran war.

He is also expected to thank armed forces from the UK and allied countries who are in the region.

UK personnel have intercepted more than 110 drone attacks in the region, according to the Ministry of Defence, and the RAF has conducted more than 1,600 hours of defensive operations.

The US president had given Tehran until 1am on Wednesday UK time to end its chokehold on the strait or face annihilation.

“A whole civilisation will die tonight, never to be brought back again,” Mr Trump wrote on his Truth Social platform on Tuesday.

But Mr Trump later said Tehran proposed a 10-point plan that provided “a workable basis on which to negotiate”.

The move followed a request by Pakistan, which has been acting as a mediator in the conflict between the warring sides.

Pakistan Prime Minister Shehbaz Sharif said he had invited Iranian and US officials to Islamabad for talks on Friday.

Mr Trump told his Truth Social followers: “Based on conversations with Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, of Pakistan, and wherein they requested that I hold off the destructive force being sent tonight to Iran, and subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz, I agree to suspend the bombing and attack of Iran for a period of two weeks.

“This will be a double sided CEASEFIRE! The reason for doing so is that we have already met and exceeded all Military objectives, and are very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East.”

He added: “We received a 10 point proposal from Iran, and believe it is a workable basis on which to negotiate.

“Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two week period will allow the Agreement to be finalized and consummated.

“On behalf of the United States of America, as President, and also representing the Countries of the Middle East, it is an Honor to have this Longterm problem close to resolution. Thank you for your attention to this matter! President DONALD J. TRUMP”

In a later post, Mr Trump heralded “A big day for World Peace!” and predicted “the Golden Age of the Middle East”.

Iran’s supreme national security council has confirmed it accepted a two-week ceasefire.

“If attacks against Iran are halted, our powerful armed forces will cease their defensive operations,” foreign minister Abbas Araghchi said.

“For a period of two weeks, safe passage through the Strait of Hormuz will be possible via coordination with Iran’s Armed Forces and with due consideration of technical limitations.”

UK Foreign Secretary Yvette Cooper spoke with US Secretary of State Marco Rubio on Tuesday evening.

They discussed international efforts and diplomatic means of opening the strait.

“The secretary and Foreign Secretary agreed on the need for international efforts to ensure shipping can move freely and energy supplies can reach global markets,” according to the US State Department.