UK Prime Minister Keir Starmer says the United Kingdom and France will host a summit of more than 40 countries to address the ongoing closure of the Strait of Hormuz and restore global shipping.

In a post on X on Monday, the prime minister said the disruption of the key shipping route is worsening global economic pressures.

Starmer said the planned summit will focus on developing a coordinated multinational plan to safeguard international shipping.

“The ongoing closure of the Strait of Hormuz is deeply damaging. Getting global shipping moving is vital to ease cost of living pressures,” he said.

“The UK has convened more than 40 nations who share our aim to restore freedom of navigation.

“This week, the UK and France will co-host a summit to advance work on a coordinated, independent, multinational plan to safeguard international shipping when the conflict ends.”

The move follows failed negotiations between the United States and Iran over the reopening of the strait and Tehran’s nuclear programme.

Last week, Iran agreed to reopen the waterway for two weeks and to “suspend defensive operations” on the condition that attacks by the US and Israel would cease.

However, talks between both countries collapsed after 21 hours of negotiations in Islamabad, Pakistan’s capital.

JD Vance, US vice-president, said Tehran declined to accept Washington’s terms, adding that the US requires a “fundamental commitment” from Iran not to develop nuclear weapons.

Negotiations between both countries have been ongoing, with the control of the Strait of Hormuz and Iran’s nuclear ambitions remaining key points of disagreement.