Britain has accused Iran of endangering the global economy, as more than 40 countries convene urgent talks aimed at reopening the Strait of Hormuz — a vital artery for the world’s energy supply.
The narrow waterway, linking the Persian Gulf to international shipping lanes, has been largely closed for over a month amid escalating conflict involving the United States, Israel, and Iran. Under normal conditions, roughly a fifth of global oil and gas flows through the strait, making the disruption one of the most consequential supply shocks in recent years.
Opening the virtual summit, Britain’s foreign secretary, Yvette Cooper, delivered a stark assessment of the crisis, accusing Tehran of weaponising maritime access. She warned that the closure had already triggered rising fuel and food prices, with cascading effects on households and industries worldwide.
“We have seen Iran hijack an international shipping route to hold the global economy hostage,” she said, framing the crisis as both a geopolitical and economic emergency.
The meeting brings together a broad coalition spanning Europe, Asia, the Middle East, Africa, and the Americas. Invited countries include: United Kingdom, France, Germany, Italy, the Netherlands, Japan, Canada, Republic of Korea, New Zealand, Denmark, Latvia, Slovenia, Estonia, Norway, Sweden, Finland, Czechia, Romania, Bahrain, Lithuania, Australia, United Arab Emirates, Portugal, Trinidad & Tobago, Croatia, Bulgaria, Kosovo, Panama, North Macedonia, Nigeria, Montenegro, Albania, Marshall Islands, Chile, Moldova, Greece, and Somalia. The UK is convening 35 nations to explore diplomatic and political solutions for reopening the strait.
British prime minister Keir Starmer said the talks would focus on identifying “all viable diplomatic and political measures” to restore freedom of navigation, ensure the safety of stranded vessels and crews, and resume the flow of critical commodities. A follow-up round of discussions, led jointly with France, is expected within days.
Downing Street described the gathering as the first coordinated attempt to develop a practical roadmap for reopening the strait. Military planners are expected to assess operational scenarios once hostilities subside, though officials emphasised that the immediate priority remains diplomatic de-escalation rather than direct intervention.
The scale of disruption is already severe. Around 1,000 ships are estimated to be stranded, as Iran’s partial blockade — imposed in response to US and Israeli strikes — continues to choke one of the world’s busiest maritime corridors. Before the crisis, tanker traffic through the strait averaged hundreds of vessels per week, transporting not only hydrocarbons but also a significant share of global fertiliser supplies critical to food production systems.
Industry leaders, consulted earlier this week in London, have cautioned that restoring normal operations will be neither quick nor straightforward. Security concerns, rather than insurance constraints, remain the primary obstacle to resuming transit, with shipping companies unwilling to risk vessels and crews in an active conflict zone.
Starmer acknowledged the complexity of the challenge, warning that even after fighting ceases, clearing the route and rebuilding confidence in its safety could take considerable time. “This will not be easy,” he said, underscoring the need for a coordinated approach combining diplomatic pressure, military readiness, and close cooperation with the private sector.
Meanwhile, rhetoric from Washington has further complicated the diplomatic landscape. Former US president Donald Trump stated that countries dependent on the strait should take greater responsibility for securing it, criticising European allies for what he described as insufficient support. He also indicated that any cessation of US military action would depend on Iran relinquishing control over the waterway.
For its part, Iran’s Revolutionary Guards have signalled no immediate intention to reopen the route, declaring the strait closed to what they describe as hostile powers.
The crisis underscores the fragility of global supply chains in an era of intensifying geopolitical rivalry. With energy markets tightening and inflationary pressures building, the outcome of these diplomatic efforts may prove decisive not only for the Middle East but for the stability of the global economy itself.