Senior leaders from HSBC, Goldman Sachs, and Shell, among other companies, will meet with Prime Minister Sir Keir Starmer. The meeting, scheduled for Monday, aims to address the unfolding energy crisis stemming from the situation in Iran. The meeting will also include an operational update from the Commander Maritime Operations, who is responsible for directing UK naval and Royal Marine operations globally.

Attendance includes top bosses from BP, Centrica, Equinor, Maersk, CMA, and Lloyd's of London, in addition to those already mentioned. The government seeks to hear directly from industry leaders and explain how it is engaging with partners and allies in the region to de-escalate the situation.

Starmer has vowed to use "every lever" available to prevent households from being hit by higher energy prices. This promise comes amidst growing fears about the impact of the Iran war on the UK economy. Rachel Reeves has indicated that "contingency plans" are being drafted for different scenarios related to the duration of high energy prices.

The Chancellor has suggested that any scheme will focus on 'targeted support,' criticizing a Tory government-era energy support package that cost around £40 billion. Reeves stated, "That left us with high levels of national debt, a cheque written then for a bill that is still being paid today."

The meeting with industry leaders coincides with diminishing signs of a peace deal between the US and Iran. Hopes had been raised following reports that the US had sent a 15-point peace proposal to Iran. Trump has also delayed his ultimatum for Iran to reopen the Strait of Hormuz, after a five-day pause.

However, Iranian officials have dismissed any hints of "progress" in talks, accusing the US of "negotiating with [itself]." Sources have also told the Washington Post that the Pentagon is gearing up for "weeks of ground operations" in Iran. Iran's parliament speaker has warned the US against a group operation and threatened to "set fire" to American troops, as well as ramp up attacks on allies.

On Monday, Chancellor Rachel Reeves and Energy Secretary Ed Miliband will meet with their G7 counterparts and central bank governors. Reeves is expected to call for the G7 nations to follow the UK’s lead in the transition to renewable power. This meeting underscores the urgency of addressing the energy crisis at the international level and the need for a transition to more sustainable energy sources.

International collaboration is crucial to mitigate the effects of the energy crisis and ensure global economic stability.