Arabic version: وزيرة المالية البريطانية تنتقد العمل العسكري الأمريكي ضد إيران
UK Chancellor Rachel Reeves has labeled the US decision to end diplomatic negotiations with Iran and engage in military conflict a “mistake.” Speaking at CNBC’s Invest in America forum, she emphasized that de-escalation is the best economic policy for both the UK and the global community. According to BBC News, Reeves highlighted the adverse economic impacts of the ongoing conflict, particularly on energy prices and the global economy.
Reeves stated that the UK government will not participate in the US’s military blockade of the Strait of Hormuz, a strategic shipping route. While acknowledging the UK’s historical ties with the US, she noted that friends can have differing opinions. The International Monetary Fund (IMF) has warned that the conflict could lead to a recession, with the UK likely facing the most significant economic fallout among advanced economies.
The Chancellor expressed skepticism about the conflict enhancing global safety, arguing that the US’s objectives remain unclear. She pointed out that Iran does not currently possess a nuclear weapon and stressed the importance of diplomatic channels that were previously open before the conflict erupted. Reeves remarked, “I think it was a mistake to end those and to enter into conflict, because I’m not convinced that we are safer today than we were a few weeks ago.”
In response to the situation, Reeves mentioned that UK Prime Minister Sir Keir Starmer and French President Emmanuel Macron are set to hold discussions on facilitating navigation through the Strait of Hormuz, should a proper ceasefire be established. Despite her criticisms, Reeves maintained that the UK and US share a strong relationship, although President Trump has expressed concern about its current state.
The IMF has downgraded its growth forecast for the UK this year to 0.8%, down from an earlier estimate of 1.3%. Reeves acknowledged that a resolution to the conflict would positively impact the UK economy, stating, “Our growth will be higher and inflation will be lower if the conflict comes to an end.”
