Chancellor Rachel Reeves will on Monday urge G7 partners to eschew protectionism and trade barriers, as concerns intensify over energy and other critical supply chains as a result of the Strait of Hormuz remaining blocked.
Reeves will warn allies within the group — which also includes the US, France, Germany, Italy, Japan, Canada and Britain — to “act together, not in ways that shift pressure on to partners or weaken collective resilience” in response to the economic fallout from the war in Iran, according to the UK Treasury.
On the same day, Sir Keir Starmer will grapple with the impact of the conflict at a roundtable in Downing Street with senior figures from the energy, shipping, financial and insurance sectors, military commanders and officials.