US war on Iran was a 'mistake', says Reeves

US war on Iran was a 'mistake', says Reeves15 minutes agoShareSaveAdd as preferred on GoogleLucy Hooker,Business reporterandEsyllt Carr,Business reporterCNBC / Aaron ClamageThe US made a "mistake" by ending diplomatic negotiations and entering into military conflict, Chancellor Rachel Reeves has said, voicing sweeping criticism of the war on Iran."The best economic policy now, not just for the UK, but globally, is to de-escalate," the chancellor told CNBC's Invest in America forum.The UK government has said it will not play any role in the US's military blockade of the key Strait of Hormuz, designed to put additional pressure on Iran.Asked whether the UK and US's growing differences over the conflict had affected the "special relationship" between the two countries, Reeves said no, but added: "Friends are allowed to disagree".This week the International Monetary Fund (IMF) warned that the US-Israel war with Iran could plunge the global economy into recession, with the UK set to be the hardest hit of the world's advanced economies.Reeves said she was "not convinced that this conflict [had] made the world a safer place" adding that as well as the immediate impact on the UK economy, there would be long-term economic pain globally, because of the damage done to oil and gas facilities in the Middle East.Energy prices have soared since the war began more than six weeks ago, causing a sharp reduction to traffic through the key Strait of Hormuz shipping route.Reeves told an audience at the Invest in America Forum in Washington DC where she's been attending the IMF's annual conference, that while she shared the Trump administration's strong dislike of the Iranian regime, it was a question of how best to achieve change.There had been no clarity over the last six weeks over the US's objective in pursuing the conflict she said, whether it was to prompt regime change, ending any I...