Sir Keir Starmer met with the other G7 world leaders on Monday, after US President Donald Trump announced that the Strait of Hormuz would soon reopen.
It is the Prime Minister’s first meeting with Mr Trump since he was dubbed “no Winston Churchill” in March, as the US President slammed Sir Keir over his refusal to allow RAF bases to be used for US strikes.
On Monday, Mr Trump told Emmanuel Macron: “I am very happy to say: ‘it’s signed, the deal is all signed'”.
Mr Trump has declared that the “Great Deal” will be signed formally on Friday, and will result in the US naval blockade being lifted within 30 days, two months after it was first imposed.
In a post on Truth Social, he wrote: “I hereby fully authorise the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorise the immediate removal of the United States Naval blockade.
“Ships of the World, start your engines.”
In a second post, he added: “This Great Deal will bring Peace and Security to the whole Region. Many presidents have tried to make Peace with Iran, and all have failed before me.
“The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace.
“With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!”
Ships have started to move through the Strait of Hormuz, with US markets opening higher this morning after oil prices fell.
The S&P climbed 1.6% and the Dow Jones was up 1.2%, after oil prices fell 3.8% globally and US-traded oil was down 4.1%.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu has said the “fight is not over”, adding that the country must “remain vigilant”.
A 60-day ceasefire is expected to be agreed while the warring nations iron out the finer details.
Sir Keir has welcomed the US-Iran peace deal as a “hugely important step forward in ending the war,” adding that the strait must remain “fully and permanently open”.
A joint statement from Britain, France, Germany and Italy read: “Iran must never acquire a nuclear weapon. We stand ready to work with the U.S., Iran and the IAEA to this end.”
The Prime Minister will return to the UK on Wednesday ahead of the Makerfield by-election, with Labour candidate Andy Burnham poised to challenge him for the Labour leadership should he gain a seat.
