A Royal Navy warship is being sent to the Middle East to be ready to join an international mission to guard shipping in the Strait of Hormuz.
Type 45 destroyer HMS Dragon will “pre-position” in the region, in preparation for a UK and French-led initiative once hostilities cease between Iran and US-Israeli forces.
France moved its Charles de Gaulle aircraft carrier from the Mediterranean to the Red Sea on Wednesday in a bid to show the US and Iran it was willing to help solve the Hormuz crisis.
A fragile ceasefire remains in place, although in attacks on Friday US forces hit two Iranian tankers that were trying to breach the blockade imposed by US President Donald Trump.
The proposed mission, promoted by Sir Keir Starmer and French President Emmanuel Macron, would involve a coalition of nations willing to ensure freedom of navigation in the strait, a vital route for global oil and gas supplies, along with other goods, including fertiliser.
“We can confirm that HMS Dragon will deploy to the Middle East to pre-position ahead of any future multinational mission to protect international shipping when conditions allow them to transit the Strait of Hormuz," a Ministry of Defence spokesman said.
“The pre-positioning of HMS Dragon is part of prudent planning that will ensure that the UK is ready, as part of a multinational coalition jointly led by the UK and France, to secure the strait, when conditions allow.”
HMS Dragon was sent to the Eastern Mediterranean in March, shortly after the start of the war, to help defend Cyprus from drone and missile attacks.
US still waits for response to proposal
Despite a state of relative calm around the Strait of Hormuz on Saturday, Washington was waiting for Iran's response to its latest proposal to end more than two months of fighting and begin peace talks.
US Secretary of State Marco Rubio said on Friday that Washington expected a response within hours. A day later, there was no sign of movement from Tehran.
State-affiliated media quoted a military official as saying the US Navy would be met with “decisive force” if it “causes trouble” for Iranian vessels again.
Once there is “clarity” on the situation in Hormuz, a defensive naval operation that has been in preparation for weeks could be launched, an adviser to Mr Macron said on Wednesday.
“The risk of a prolongation of hostilities is too serious for us to accept,” the adviser said. “Our objective is simple: to set aside and address the Hormuz issue separately, in order to immediately send the signal that negotiation is possible on the remaining issues without jeopardising the global economy.”
Tehran has largely blocked non-Iranian shipping through the strait since the war began. The US imposed its own blockade on Iranian vessels last month. But a CIA assessment suggested Iran would not suffer severe economic pressure for about another four months, a US official familiar to the matter told the Washington Post.
Oil prices rose on Friday, while global stocks ended the week mixed.
Brent, the benchmark for two thirds of the world's oil, was up as much as 2.9 per cent before settling 1.23 per cent higher at $101.29 a barrel. West Texas Intermediate, the gauge that tracks US crude, gained 0.64 per cent to $95.42 a barrel.
Trump to visit China next week
With Mr Trump due to visit China this week, a negotiated solution involving Beijing now looks increasingly likely. Although the US also ratcheted up sanctions pressure on Tehran.
The US Treasury announced measures on Friday against 10 people and companies for aiding efforts by Iran to buy weapons and materials used to build drones.
Several of the companies named in the new sanctions are based in China.
In a statement, the Treasury Department said it remains ready to take economic action against Iran's military industrial base so that the country cannot rebuild its production capacity and engage in influence operations abroad.
It added that the US was prepared to act against any company supporting illicit Iranian commerce.
