UK weighs economic fallout of Iran-US tensions as PM Starmer calls emergency meeting

UK weighs economic fallout of Iran-US tensions as PM Starmer calls emergency meeting
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Summary Starmer said that rising fuel prices are a harsh reality and warned that the impact of the crisis could persist for a prolonged period

LONDON (Dunya News) - The concerns are growing in the United Kingdom (UK) over the economic impact of the Iran–United States conflict and rising tensions in the region.

According to foreign media reports, Prime Minister Keir Starmer has convened a joint meeting of the Bank of England and the government’s emergency committee, COBRA, scheduled for tomorrow to assess the potential effects of Iran war on the economy.

Addressing the trade union members, Starmer said that rising fuel prices are a harsh reality and warned that the impact of the crisis could persist for a prolonged period.

He further stated that the government would not leave the working class alone during this economic situation and would take all possible measures to control prices.

In the related development, Iranian Foreign Minister Abbas Araghchi on Monday met Russian President Vladimir Putin in St. Petersburg, according to Russian news agencies.

President Putin said he had received a message from Iran’s Supreme Leader and conveyed his best wishes, asking Araghchi to pass them along.

He expressed hope that the Iranian people would overcome the current difficult period and that peace would be established in the region.

Putin added that Russia would do whatever possible in the interests of Iran and countries in the region.

The Russian president further stated that Moscow intends to continue its strategic relations with Tehran.