Prime minister and Trump have agreed reopening Strait of Hormuz is ‘essential’ to stabilise global energy market
Sir Keir Starmer has rejected suggestions that the UK could be targeted by Iranian missiles, after Tehran took aim at the military base on the Chagos Islands.
The Israeli Defence Forces said over the weekend that the attack showed Iran is now capable of reaching cities such as London, Paris or Berlin.
But speaking on Monday, the prime minister said there is “no assessment” that the UK is being targeted by Iranian missiles.
In a conversation on Sunday night, the UK prime minister and the US president agreed reopening the Strait of Hormuz is “essential” to stabilise a global energy market that had seen oil prices rocket since Mr Trump began his joint campaign with Israel against Iran.
Chancellor Rachel Reeves, foreign secretary Yvette Cooper and the governor of the Bank of England, Andrew Bailey, are among those set to attend the Cobra meeting, which is expected to focus on the economic impact of the crisis, energy security and the resilience of industry and supply chains alongside the international response.
Interest rates could be raised three times this year, City traders forecast
Some City traders have forecast that interest rates could be raised three times in 2026, following the Bank of England’s decision to hold its rate at 3.75 per cent.
The Bank’s Monetary Policy committee (MPC) voted unanimously to hold the base rate on Thursday, citing concerns that the war between US and Iran will push up inflation by raising energy costs.
More than 500 mortgage deals were pulled from the market last week, the highest number since the aftermath of the ‘mini-Budget’ presented by former prime minister Liz Truss. Meanwhile, the average rate on two-year fixed deals has risen above 5 per cent for the first time since August.
Experts had been anticipating the Bank to cut its base rate this month following a drop in the headline inflation rate from December to January. It is now expected that inflation will rise again as disruption to the global oil trade causes the cost of energy and fuel to spike.
British man jailed in Iran says UK government has ‘abandoned him and his wife in a war zone’
A British man jailed for a decade in Iran on spying charges has accused the UK government of abandoning him and his wife. Craig Foreman, speaking from prison, expressed profound disappointment alongside his partner, Lindsay, after they were handed 10-year sentences.
The 53-year-olds, who deny the espionage charges, feel “let down, alone and completely frustrated” by the handling of their case, Mr Foreman stated. The couple, from East Sussex, were detained in January 2025 while on an around-the-world motorcycle journey through Iran and are now held in Tehran’s notorious Evin Prison.
They have sharply criticised the government, alleging they were left to fend for themselves in what Mr Foreman described as a “war zone”.
Streeting calls antisemitic arson attack on ambulances ‘sickening’
Health Secretary Wes Streeting described the arson attack on four ambulances belonging to a Jewish Community Ambulance service in Golders Green as “sickening”.
He posted on X: “Thank goodness there appear to be no injuries.
“Anyone with information should come forward to the Police.
“We must stand together against antisemitic hatred.”
Prime minister condemns ‘horrific’ antisemitic arson attack on ambulances
Prime Minister Sir Keir Starmer has called for communities to “all stand together” in the face of an “horrific antisemitic attack”, which saw four Jewish community ambulances set on fire.
The Metropolitan Police confirmed the incident is being treated as an antisemitic hate crime, with CCTV showing three individuals setting light to an ambulance in the early hours of Monday morning.
There were no injuries reported in the attack on the Jewish community ambulance service, Hatzola, in Highfield Road, Golders Green, north-west London, around 1.45am, and no arrests have yet been made.
Jewish community leaders condemned the attack, with the Chief Rabbi Ephraim Mirvis saying the targeting of the volunteer service was “particularly sickening”.
The prime minister will convene his top ministers, as well as the governor of the Bank of England, Andrew Bailey, to discuss threats faced by Britain amid the ongoing war in the Middle East.
Speaking on Monday morning, Sir Keir said the meeting will be the opportunity “at the highest level to bring people together on matters of real, significant national importance.”
The meeting is expected to focus on the economic impact of the crisis, energy security and the resilience of industry and supply chains alongside the international response.
“Obviously Cobras are usually used for military considerations, consular considerations, but I think with the Iran war, most people are very concerned now, not only what they’re seeing on their screens in relation to the conflict itself, but also that question of how is it going to affect me and my family?” he said.
“And so today we’re looking at the economic impact, and I am asking for every lever that’s available to the Government to deal with the cost of living to be discussed at Cobra.
“Hence we’ve got the Bank of England and others there. But I want to make sure that when it comes to the cost of living, we’re doing everything we possibly can at a very difficult period like this.”