Senior executives from some of Britain’s most powerful companies in energy, finance and logistics are set to sit down with Prime Minister Sir Keir Starmer as the government moves to get ahead of an deepening energy crisis driven by the war in Iran.
The roundtable, held at Downing Street, brings together chief executives from BP, Centrica, Equinor, Maersk, CMA CGM, HSBC, Goldman Sachs and Lloyd’s of London. The session will also include an operational briefing from the Commander Maritime Operations — the officer responsible for directing UK naval and Royal Marine operations globally — reflecting the security dimension of the crisis alongside its economic impact.
The meeting is designed to give senior ministers direct insight into how the conflict is affecting supply chains, energy markets and financial stability, while allowing the government to brief industry leaders on its diplomatic efforts to pursue de-escalation in the region.
Starmer has committed to using “every lever” available to protect households from surging energy costs, as the Iran war continues to drive up prices globally. Chancellor Rachel Reeves has confirmed the Treasury is preparing “contingency plans” for scenarios in which elevated energy prices persist for an extended period — though she has been clear that any support will be more tightly targeted than the blanket interventions deployed during the 2022 energy crisis.
“That left us with high levels of national debt, a cheque written then for a bill that is still being paid today,” Reeves said, referencing the approximately £40bn cost of the previous government’s energy support package.
Peace Talks Stalling as Military Pressure Builds
The summit comes at a moment of significant diplomatic uncertainty. Reports emerged last week that the US had delivered a 15-point peace proposal to Iran, and President Trump has extended his deadline for Iran to reopen the Strait of Hormuz — first by five days, then by a further ten. But Iranian officials have dismissed talk of progress in negotiations, accusing Washington of “negotiating with itself.”
Meanwhile, sources cited by the Washington Post indicate that the Pentagon is actively planning for what could be “weeks of ground operations” inside Iran. Iran’s parliament speaker has responded with stark warnings, threatening to set any US ground forces “on fire” and to escalate attacks on allied nations.
On the same day as the Downing Street meeting, Chancellor Reeves and Energy Secretary Ed Miliband are attending a G7 gathering of finance ministers and central bank governors. Reeves is expected to push G7 partners to accelerate their own transitions to renewable energy — a position that aligns with the UK’s long-term strategy of reducing dependence on fossil fuel imports as a hedge against future supply shocks.