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Oil prices could rise if Iran goes ahead with threat to shut down shipping in the strait of Hormuz
US strikes on Iran could damage global economic growth, the head of the International Monetary Fund has warned.
Director Kristalina Georgieva told Bloomberg TV that the IMF was watching energy prices closely, warning a rise in oil prices could have a ripple effect throughout the global economy.
Keir Starmer backs strike on Iran’s nuclear facilities and calls on Tehran to return to negotiations but warns of ‘risk of escalation’ in Middle East
Foreign secretary David Lammy has said that diplomacy is the only permanent solution to the UK’s longstanding concerns over Iran’s nuclear programme, and that Tehran’s government must “get serious about the off-ramp that is being made available to them” in the wake of US strikes on Iran’s nuclear facilities.
Lammy said that Iran had clearly been in breach of agreements by enriching uranium up to 60%, which he said was way above the levels of enrichment carried out by the UK.
I’m sorry that (the Joint Comprehensive Plan of Action) has since been breached, of course I am, but that’s why the international community is ultimately committed to this. And let’s be clear, if Iran is able to enrich beyond 60%, is able to get a weapon, what we will see is nuclear proliferation across the Middle East, the world will be seriously more dangerous than it is at the moment, that’s why it must be stopped.
I went straight to Geneva … to sit with the Iranians. I spent seven hours in Geneva to talk them down to this off-ramp. It is still the case that this can only be sorted out diplomatically, and Iran must now take that off-ramp.
I don’t think it is extraordinary because this was not the UK’s action, we were not involved, we were clear when this began and Israel’s attacks began that we were not involved … so I don’t say it’s not legitimate, but I can tell you as foreign secretary that we were not involved.
The prospect of higher energy prices may also delay the next Reserve Bank rate cut to until August instead of July, economists say
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Australian motorists could be paying $2 a litre for petrol in coming weeks, after US military strikes on Iranian nuclear facilities triggered a lift in oil prices on Monday.
As the IMF warned that turmoil in international energy markets posed a threat to global growth, analysts said higher fuel and power costs would be another blow to households still struggling with the high cost of living.
Clifton George, 44, arrested after Annabel Rook found with stab wounds in Stoke Newington on Tuesday
A man has been charged with the murder of a charity worker who was found stabbed in her home after a gas explosion.
Clifton George, 44, was arrested after Annabel Rook was found with stab wounds in Dumont Road, Stoke Newington, north London, shortly before 5am on Tuesday.