Prime Minister to meet Shell, HSBC and Goldman Sachs bosses over Iran war energy crisis

Top officials from energy, finance and logistics sectors will meet Sir Keir Starmer on Monday as the government scrambles to ease the energy crisis from the Iran war

A number of senior executives from the likes of HSBC, Goldman Sachs and Shell are set to meet Prime Minister Sir Keir Starmer on Monday, as the government moves swiftly to help address the deepening energy crisis triggered by the war in Iran.

Senior figures from the energy, finance and logistics industries will attend the roundtable on Monday, which will also feature an operational briefing from the Commander Maritime Operations, who is responsible for directing and coordinating UK naval and Royal Marine operations globally.

Also in attendance will be chief executives from BP, Centrica, Equinor, Maersk, CMA, HSBC, Goldman Sachs and Lloyd’s of London.

The gathering will enable senior ministers to hear directly from industry figures, and for the government to outline how it is engaging with partners and allies in the region to pursue de-escalation.

Starmer has pledged to use “every lever” at his disposal to shield households from rising energy costs, amid mounting concerns that the Iran war is causing significant damage to the UK economy, as reported by City AM.

Rachel Reeves has confirmed that “contingency plans” are being drawn up to address various scenarios in which energy prices remain elevated for a prolonged period.

However, the Chancellor has indicated that any measures will concentrate on ‘targeted support’, having criticised a Conservative government-era energy support package that cost approximately £40bn.

“That left us with high levels of national debt, a cheque written then for a bill that is still being paid today,” Reeves said.

The meeting with industry leaders arrives as the US and Iran display few indications of reaching a peace settlement.

Expectations had been heightened following reports the US had delivered a 15-point peace proposal to Iran over the past week. Trump has also since postponed his ultimatum for Iran to re-open the Strait of Hormuz by another 10 days following a previous five-day extension.

However, Iranian officials have rejected such notions of “progress” on talks, accusing the US of “negotiating with [itself]”.

Sources have also informed the Washington Post that the Pentagon is preparing for “weeks of ground operations” in Iran.

Iran’s parliament speaker has cautioned the US against a ground operation and threatened to set American troops “on fire” as well as intensify attacks on allies.

Elsewhere on Monday, Chancellor Rachel Reeves and Energy Secretary Ed Miliband will meet their G7 counterparts and central bank governors.

Reeves is anticipated to urge the G7 nations to follow the UK’s example in the transition to renewable power.