UK and France set to lead 'multinational mission' to protect peace in Strait of Hormuz

“This will be strictly peaceful and defensive, as a mission to reassure commercial shipping and support mine clearance.

“We invite all nations with an interest in the free flow of global trade to join us. Some have already indicated their readiness to contribute.

“We will take this forward with a military planning conference in London next week where we will announce more detail on the composition of the mission, and over a dozen countries have already offered to contribute assets.”

However, President Donald Trump has dismissed Europe's efforts to ensure the opening of the Strait of Hormuz.

He wrote on Truth Social: "Now that the Hormuz Strait situation is over, I received a call from Nato asking if we would need some help.

"I TOLD THEM TO STAY AWAY, UNLESS THEY JUST WANT TO LOAD UP THEIR SHIPS WITH OIL.

They were useless when needed, a Paper Tiger!"

The announcement comes after the Prime Minister joined Emmanuel Macron, France's President, in hosting a joint (virtual) summit with other international leaders in Paris, to discuss the opening of the Strait of Hormuz.

Sir Keir met with Mr Macron in the Élysée Palace in the French capital, earlier today (Friday) and then conducted the meeting with roughly 40 other international leaders and officials.

The Prime Minister had previously told reporters he would "do everything" he can to soften the impact of the Iran war on the UK and to reopen the Strait of Hormuz.

The announcement comes as Iran declared the Strait of Hormuz open, as well as President Donald Trump saying the critical shipping lane is now "ready for full passage".

Iran's foreign minister Abbas Araqchi said the strait will be open to all commercial vessels for the remainder of the ceasefire with the US and Israel.

Mr Trump took to social media to echo Iran's announcement, writing on Truth Social: "The Strait of Hormuz is completely open and ready for business and full passage, but the naval blockade will remain in full force and effect as it pertains to Iran, only, until such time as our transaction with Iran is 100% complete."

The critical waterway used to see roughly 20 per cent of the world's oil pass through it.

However, since the US-Israeli joint operation started against Iran, commercial ships travelling through it dwindled, coming to a complete halt on March 2, when Iran announced the closure of the strait.

Since then, the global price of oil has fluctuated greatly, with increased petrol and diesel prices impacting UK households.

Opposition parties have been calling for the Government to grant more gas and oil exploration in the North Sea, however, they have remained steadfastly committed to Ed Miliband's Net Zero policy.

The announcement of the opening of the strait has calmed oil prices, dropping by more than 10 per cent on Friday.

Brent crude dropped by around 10 per cent to roughly $89 per barrel, while crude oil fell more than 11 per cent in a single session.

The details of the "multinational mission" is not yet known, but it is possible the UK Government might send frigates to the strait to protect the passage of commercial ships, in an effort to soothe the supply-side shocks the closure of the waterway has caused.

However, the UK's deployment of HMS Dragon, a Type 45 air-defence destroyer, to protect Cyprus was significantly delayed - taking the vessel three weeks to arrive in the eastern Mediterranean.

HMS Dragon lagged behind the UK's European allies' ships, with France, Spain, Italy and the Netherlands all sending ships to the Cypriot coast whilst she was docked at Portsmouth harbour.