Main developments
Donald Trump said “numerous countries” had told him they were “on the way” to help protect vessels in the Strait of Hormuz, but complained that others were reluctant. The president told the FT that Nato faces a “very bad” future if allies fail to assist the US in opening up the vital waterway, which has been closed by Iran.
Prime Minister Sir Keir Starmer insisted the UK would “not be drawn into the wider war”, while Germany, Japan and France dismissed the prospect of sending vessels to help reopen the strait. German Chancellor Friedrich Merz said Nato was “not an intervention alliance”.
Canada, France, Germany, Italy and the UK called for an “immediate de-escalation” of the conflict between Israel and Lebanese militants Hizbollah, warning that a large Israeli ground offensive would have “devastating humanitarian consequences”.
Brent crude finished above $100 a barrel for the third consecutive session. Oil prices had opened higher, with Brent climbing as much as 3.3 per cent to $106.50 a barrel. US and European stocks climbed.
Dubai International Airport suspended operations after a drone attack caused a fire at nearby fuel tanks, with several flights from the UK forced to turn back. British Airways has cancelled flights into the Gulf until the end of May.
Five G7 leaders urge ‘immediate de-escalation’ of Israel-Hizbollah conflict
The leaders of five G7 countries have called for an “immediate de-escalation” of the conflict between Israel and Hizbollah, warning that a large Israeli ground offensive would have “devastating humanitarian consequences”.
“Hezbollah’s attacks on Israel and the targeting of civilians must cease and they must disarm,” the leaders of Canada, France, Germany, Italy and the UK wrote in a joint statement on Monday.
The leaders called on Israeli and Lebanese representatives to “negotiate a sustainable political solution” and said they supported initiatives to facilitate talks between the two sides.
Describing the humanitarian situation in Lebanon as “deeply alarming”, the leaders said: “A significant Israeli ground offensive would have devastating humanitarian consequences and could lead to a protracted conflict. It must be averted.”
Trump says US requested China delay summit with Xi by ‘a month or so’
Donald Trump said his team was “working on” rescheduling his trip to China, currently scheduled for two weeks’ time.
“I’d love to, but because of the war, I want to be here,” Trump said, adding the White House had requested Beijing “delay” the visit by “a month or so”.
“It’s very simple. I have got a war going on,” the president added.
Trump told the FT in an interview that “China should help” in unlocking the Strait of Hormuz because it “gets 90 per cent of its oil” shipped through the crucial waterway.