The statement made by John Healey, the Chancellor of the Exchequer, on 25 August 2026.
Since taking office, the Government has imposed over 240 sanctions on Iran whose actions threaten our people and security, and we will continue working alongside the US and other partners to apply economic pressure on Iran. We are determined to prevent the Iranian regime from exploiting the global economy and abusing the UK financial system to advance its nuclear programme and wider destabilising activities. We support US work to secure a diplomatic solution and welcome efforts to increase pressure, including through Operation Economic Outcast. We will continue to work with partners to protect our interests, take the necessary steps to re-open the Strait and counter Iran’s dangerous activity. We call on Iran to cease its destabilising activity across the region, including in the Strait of Hormuz, and engage in diplomatic discussions in good faith.