Sir Keir Starmer told MPs the UK would not join US-Israeli offensive action against Iran, saying Britain “does not believe in regime change from the skies”. He defended denying the first request to launch from British soil, before later granting tightly limited access to UK bases for what he called defensive missions to protect British lives and allies. (ft.com)

Downing Street has set out a legal case grounded in the collective self-defence of Gulf partners and the protection of UK nationals, stressing that any US use of British facilities will be confined to destroying missile launchers and stockpiles poised to strike. Requests to use Diego Garcia and RAF Fairford, initially rebuffed, were subsequently approved for this narrow purpose. (theguardian.com)

The shift followed direct threats to British assets. In the early hours of Monday 2 March, a Shahed‑type drone hit RAF Akrotiri in Cyprus, causing limited damage and no casualties; force protection was raised, some families were moved, and authorities prepared for non‑essential departures. Ministers reiterated that Britain is not at war. (independent.co.uk)

The wider context is stark. On Saturday 28 February, US and Israeli forces carried out strikes inside Iran; multiple outlets, including Iranian state media cited by Al Jazeera, reported the death of Ayatollah Ali Khamenei. Iran retaliated with waves of missiles and drones across the region, while false imagery and rumours proliferated online-another risk factor for directors trying to make decisions at speed. (aljazeera.com)

Politics at Westminster is fractious. Conservatives urged Starmer to align fully with Washington; Reform UK praised the US strikes. Liberal Democrats and Greens demanded a Commons vote and warned against mission creep. Editorial voices argued Parliament must assert control before a limited defence policy drifts into co‑belligerency. (itv.com)

For directors with staff or operations in Bahrain, Kuwait, Qatar, Saudi Arabia, the UAE or Israel, duty of care is immediate and non‑delegable. Require daily location check‑ins, move to essential travel only, and register employees with the FCDO alert portals for affected states. Officials say more than 100,000 people have already registered and evacuation contingencies are being studied even as no mass airlift is under way today. (itv.com)

Travel and trading conditions are volatile. Large sections of Middle Eastern airspace have been shut, with widespread cancellations and diversions leaving travellers stranded as hubs throttle operations. Limited government‑backed flights are moving, but capacity is tight-plan for prolonged disruption and authorise remote work for displaced teams. (theguardian.com)

Shipping costs are rising sharply. Hapag‑Lloyd has imposed a War Risk Surcharge from 2 March of USD 1,500 per standard container and USD 3,500 for reefers and special equipment on Upper/Arabian/Persian Gulf lanes. Finance teams should pre‑approve reroutes around Hormuz and set aside contingency for expedited logistics. (hapag-lloyd.com)

Energy markets have reacted. Brent jumped roughly 7–9% and desks warn of sustained $80 crude if the corridor remains unsafe; European gas futures spiked on LNG disruption. Boards should reprice fuel clauses, revisit hedges, and, where contracts allow, trigger pass‑throughs to protect cash flow. (apnews.com)

Compliance risk is rising alongside missiles. Expect tighter sanctions and bank de‑risking that can catch otherwise lawful trade; instruct counsel to refresh OFSI/OFAC screenings on all counterparties and vessels, and secure written insurer positions on war exclusions before resuming Gulf shipments. The government’s line remains that Britain is not at war and that base access is only for limited defence-but the operational risk to your people and cash is here now. (apnews.com)