Iran 'holding global economy hostage' with Strait of Hormuz blockade, says UK

The UK is working with allies on a plan to re-open the Strait of Hormuz for hundreds of tankers to pass through, says Foreign Secretary Yvette Cooper.

At a meeting of foreign ministers near Paris on Friday, she stressed that the Tehran regime could not be allowed to keep the “world economy hostage”.

Hours earlier, a Thai tanker was hit and set on fire as it attempted to transit the key strait, through which a fifth of global oil supplies are transported.

Tehran is allowing some tankers, including from India and China, to go through the waterway without coming under attack.

But Iran has warned that British and other western vessels will be targeted.

More than a dozen tankers have been hit since the start of the conflict, triggering the biggest ever oil supply shock.

It is causing economic carnage in the UK with a £15 billion blow to GDP and inflation spiralling to towards 4%.

Speaking at the G7 meeting in Vaux-de-Cernay, Ms Cooper said: “Iran cannot be able to just hold the global economy hostage as a result of a strait which is about international shipping routes and the freedom of navigation that has been so strongly supported at the United Nations, but also by countries across the world.”
She added that she was “deeply concerned” about Russia's co-operation with Iran as she sought to maintain pressure on President Vladimir Putin over his invasion of Ukraine despite the crisis in the Gulf.

Ms Cooper said drones provided to Russia by Iran have been involved in strikes in Ukraine, “but we have also seen support from Russia provided to Iran in the Middle East conflict as well”.

Britain, France, Germany, Australia and other allies have rejected Donald Trump’s demand to send warships for a maritime battle to re-open the strait , with the US president lashing out at the UK by describing its aircraft carriers as “toys”.

But these nations and others are ready to joint a mission to keep open the strait once the conflict de-escalates.