In a community center address in London, UK Prime Minister K. Starmer warned that the longer the conflict in Iran persists, the more likely it is to affect the UK's economy and the daily lives of its citizens. He highlighted the need for the government to proactively anticipate and assess risks associated with this situation, emphasizing the importance of collaboration with other nations to manage the economic fallout.

Starmer’s remarks come amid rising public concern over the cost of living crisis exacerbated by increased energy prices following Russia's invasion of Ukraine in 2022. He assured that the government is prepared to address these economic challenges and mentioned that most households would be protected by gas and electricity price caps before summer arrives. This reassurance reflects the government’s commitment to alleviate financial pressure on families facing rising costs.

Additionally, Starmer pointed out that his Chancellor, Rachel Reeves, would be participating in discussions with G-7 counterparts as the war in the Middle East enters its tenth day. The focus of these talks will be on coordinated responses to the escalating situation, including strategies for the release of strategic oil reserves, thereby underscoring the international dimension of this crisis and its implications for global energy markets.