Donald Trump has announced that a peace deal between the US and Iran could finally be reached tomorrow - after a four-month war that has consumed neighbouring countries in the Middle East and severely impacted the global economy.
The US President took to his social media platform, Truth Social, where he wrote that the Strait of Hormus would again become "open to all" after a deal has been signed.
The news has been welcomed by Prime Minister Sir Keir Starmer, who spoke to Mr Trump on Saturday afternoon, telling him the UK is ready to support any peace efforts.
Mediators have said an agreement to end the conflict is close, and the president is expected to discuss plans with allies during next week’s G7 summit in France.
Analysts are encouraged it could ease the oil and gas crisis facing the rest of the world which has seen prices skyrocket on petrol forecourts. Britain’s economy is expected to show signs of an impact from the Iran war when official figures are released for April on Friday, after a surprisingly strong start to the year.
Economists feared that a drawn-out conflict could lead to similar problems seen in the 1970s energy crisis, such as supply shortages, market volatility, inflation and sharp risks of recession.
Trump stated: "Our relationship with Iran is a much different and better one than past Administrations have had.
"At the appropriate time, when all is calm, we will go in and get the Nuclear Dust, buried deep under the powerful sunken granite mountains, thanks to our beautiful B-2 Bombers and their brilliant pilots, and downblend and destroy it, whether in Iran, or the United States."
Britain and France have expressed interest in assisting with demining the Strait of Hormuz once the conflict is paused.
Sir Keir is likely to face questions about defence spending at the G7, after the resignation of defence secretary John Healey and armed forces minister Al Carns over the long-delayed defence investment plan (Dip).
A Downing Street spokesperson said: “The Prime Minister spoke to the President of the United States, Donald Trump, this afternoon.
“The Prime Minister expressed his support for President Trump’s efforts to bring the conflict with Iran to an end, welcoming the progress made and underlining the importance of ensuring any deal delivers a durable and lasting peace.
“The Prime Minister reiterated that the UK stands ready to support the implementation of any peace agreement and to work with international partners to ensure its success.
“Both leaders agreed that freedom of navigation must be restored to ease the economic impacts felt globally.
“They agreed to stay in close contact and looked forward to speaking at next week’s G7 summit.”
