United Kingdom finance minister Rachel Reeves slammed United States President Donald Trump’s war on Iran, describing it as a “mistake” that has had significant negative impacts on the global economy and living standards around the world.
Reeves criticised Trump’s handling of the conflict, saying that the aims of the war were “not clear: and had shifted between regime change, protecting partners in the region, and stopping Tehran’s nuclear program.
“I’m not convinced this conflict has made the world a safer place,” Reeves said.
“It’s not been clear over the last six weeks what exactly the aim of this conflict is.”
She pointed out that the war has already done long-term damage to oil and gas facilities in the Middle East.
“Even if this conflict does come to an end tomorrow, there are longer-term impacts,” Reeves said.
“Damage has been done.”
Reeves also called for an urgent reopening of the Strait of Hormuz to calm global energy prices, as oil prices sit above US$90 per barrel.
“We had the waterway open a few weeks ago. So, if now the objective is to reopen the Strait of Hormuz? Well it was open at the beginning of this conflict,” she said.
This comes as Reeves prepares to meet global finance ministers at this week’s spring meetings of the International Monetary Fund (IMF).
Recently, the IMF released a report that said the UK could experience the biggest economic growth hit of all the world’s richest countries if the Iran war continues to escalate.
UK Prime Minister Keir Starmer, alongside other world leaders, has also refused to help Trump in his blockade of the Strait of Hormuz.
Reeves said the UK’s growth will be higher and inflation will be lower if this conflict comes to an end, “and that can only happen through de-escalation”.
“The best economic policy, not just for the U.K. but globally, is de-escalation and the reopening of the Strait of Hormuz,” she said.
