Prime Minister Keir Starmer said on Monday he would resign, with a new ​leader to be in place by the time parliament returns in September, paving the way for Britain to have its seventh leader ‌in 10 years.

Less than two years after he won a landslide election victory that promised to end chaos in British politics, Starmer said it was clear that his party wanted him to go, Reuters reported.

“The question my party is asking now ​is whether I am best placed to lead us into the next general election, I have heard the answer of my parliamentary party ​to that question, and I accept that answer with good grace,” he said.

PRESSURE HAD BEEN BUILDING FOR MONTHS

The threat to ⁠Starmer, which had been building for months, increased sharply on Friday when Burnham, the Greater Manchester mayor, decisively won a parliamentary election to return to Westminster, ​beating a candidate from Nigel Farage’s Reform UK party, which has led national opinion polls for more than a year.

That victory gave hope to Labour lawmakers that ​Burnham, a career politician known for his communication skills, could transform the fortunes of a party that has lost support under Starmer, whose popularity ratings have sunk to the lowest for any British leader.

Starmer thanked his colleagues for their support, his voice cracking with emotion as he also paid tribute to his wife and children.

The pound and British government ​bonds were steady in the immediate aftermath of Starmer’s announcement, which investors had widely expected.

Despite the attempt at a smooth handover, the change is not ​without risk.

Beyond saying that the country needs fundamental change and to bring down the cost of living, Burnham has yet to make clear his approach to foreign affairs, the economy ‌and defence.

Like ⁠Starmer, he could find he has little room to manoeuvre, hemmed in by bond market investors opposed to any additional borrowing, and confronted by an angry electorate which believes the country is not working properly.

Britain already has the highest borrowing costs in the Group of Seven wealthy nations due to its high debt and interest payments, years of anaemic economic growth, its struggles to cut spending and the need to invest in areas like defence.

Investors spoken to by Reuters were divided over whether Burnham, ​who said last September that Britain ​had to get “beyond this thing of ⁠being in hock to the bond markets” would respect the need to reassure markets.

He has since said he was misrepresented.

“In our view, a Burnham premiership would inherit a precarious fiscal situation with few tools to deliver meaningful change,” ​economists at Citibank said on Friday.

STARMER HAD PLEDGED TO FIGHT ANY CHALLENGE

Starmer had said on Friday he would stand ​in any formal Labour ⁠leadership contest that sought to replace him. But that appeared to change over the weekend.

Whoever replaces Starmer will become Britain’s seventh prime minister since the Brexit vote to leave the European Union which took place 10 years ago this week.

That level of turnover – the highest in Britain in nearly two centuries – underlines the struggle of maintaining the ⁠support of ​voters angry at successive failures to improve living standards, public services and tackle illegal immigration.

The political ​advisory group Eurasia had said the best outcome could be for Starmer to say he will step down in September, enabling him to attend a UK-European Union reset summit in July and ​give Burnham time to prepare for government.

The first round of talks between high-ranking U.S. and Iranian officials in Switzerland ended Monday, mediators said, after a tense opening marked by Tehran’s announcement ​it had again closed the Strait of Hormuz and U.S. President Donald Trump repeating his threats to resume attacks on Iran.

A joint statement from mediating nations Qatar and Pakistan said the U.S. and Iran agreed ‌to a roadmap toward a final deal within 60 days. Technical talks will continue for the rest of the week in the Qatari-owned Swiss mountain resort of Buergenstock, according to the statement, which was released by the Qatari foreign ministry, Reuters reported.

The parties agreed to a mechanism to end the fighting in Lebanon and opened a communications line to help ensure safe passages for commercial ships through the contested strait, the statement said.

U.S. Vice President JD Vance had opened talks with Iranian officials on Sunday under the terms of a memorandum of understanding reached last week to extend a tenuous ceasefire from April for ​at least another 60 days. The discussions continued until the early hours of Monday.

In a post on social media, Iranian Foreign Minister Abbas Araqchi said his country had secured waivers for oil and petrochemical exports, the release of ​some frozen assets and the launch of a reconstruction and development plan for Iran.

The White House had no immediate comment when asked if talks had wrapped for now.

Just before talks officially began ⁠on Sunday, Fox News reported that Trump said he told Iranian officials “you won’t have a country” if they tried to close the strait again. Trump also reiterated an earlier threat that the U.S. would take over the waterway and possibly charge a toll ​of its own, Fox News said.

U.S. and Iranian sources provided separate accounts of the discussions in Switzerland.

Iran’s semi-official Tasnim news agency, citing an informed source, said that after Trump’s threats became public, the Iranian delegation refused to return to the room where talks were ​held, though messages were still being traded via Pakistani and Qatari mediators.

According to Tasnim’s source, Iranians said that the start of negotiations on nuclear matters required the delivery of other parts of the MOU, including the release of frozen assets and U.S. waivers authorizing Iranian oil exports.

“The Iranians never left and are still here meeting and negotiating deep into the night,” a U.S. diplomat involved in the talks told Reuters. “We’ve talked about the Strait, Lebanon, nuclear issues, and details of implementing the MOU, among other topics.”

High-level discussions are expected to wrap up on Monday, with technical staff remaining ​to conduct further talks, according to a U.S. official.

The agreement called for reopening the Strait of Hormuz, a choke point for global energy shipments, and ending all hostilities, including in Lebanon, where Israel has continued to launch deadly strikes as Iranian ally Hezbollah ​fires at Israeli targets.

Iran, arguing that the U.S. had failed to meet its commitment to halt fighting in Lebanon, said on the weekend that it had again stopped maritime traffic through the strait and that Sunday’s talks would not cover substantive issues such as Iran’s nuclear ‌programme.

At the talks ⁠in Switzerland, where U.S. and Iranian officials met in the presence of Qatari mediators, Vance played down the impact of violence in Lebanon, saying progress had been made towards ending hostilities there.

“These things are always a little bit messy,” he said.

Back in the United States, Trump threatened to resume attacks on Iran if it did not rein in its allies.

“Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble,” Trump wrote on social media, apparently referring to Hezbollah. “If they don’t, we’ll hit Iran very hard again, just like we did last week, only harder!!!”

Even as Trump was threatening Iran, Vance told reporters the U.S. president had “asked us to turn over a new leaf to transform our relationship with the people of Iran.”

A U.S. diplomat late Sunday said discussions included “clarifying ​some of the confusing messaging from Iran on the Strait ​and building deconfliction mechanisms to ensure the Strait will remain ⁠fully open.”

IRAN CITES LEBANON AS REASON TO CLOSE STRAIT

Despite the announcement of a new ceasefire in Lebanon on Friday, there has been scant sign of an end to fighting there. Iran said on Saturday that as a result, it had again shut the strait, whose closure for nearly four months caused the biggest disruption of global energy supplies in history.

U.S. officials disputed that the strait ​was closed, but commercially available shipping data showed an immediate impact.

Five vessels passed the strait on Sunday, a sharp drop from the 26 ships spotted a day earlier, data from ​analytics firm Kpler showed. The data ⁠may exclude vessels that switch off their transponders while travelling in the Gulf.

Iran’s Fars news agency cited a military source as saying on Sunday that no new permits were being issued for ships to cross until further notice.

Trump said he agreed to last week’s memorandum of understanding to avert a global economic depression from high oil prices caused by the strait’s closure. Oil prices had tumbled over the past week to levels unseen since the war started on February 28 with U.S.-Israeli attacks on Iran.

Brent crude futures rose more than $1 to $81.66 a ⁠barrel in early ​Monday trading, following the rocky start to the peace talks.

Sunday appeared to be the quietest day in Lebanon for some time, with no reports of ​major violence by nightfall, after two days of heavy Israeli strikes and fire from Hezbollah fighters on Israeli positions.

More than 1 million people have fled their homes in Lebanon since Israel invaded in March to pursue Hezbollah fighters who fired across the border in support of Tehran.

Reuters journalists in southern Lebanon on Sunday ​saw some of the heaviest traffic since the memorandum was signed, with residents returning to their homes. Some stood beside cars backed up on the highway and waved Hezbollah flags.

US envoy Steve Witkoff and Iranian Foreign Minister Abbas Araqchi were both headed to Switzerland for talks, Axios said on Friday, as a ceasefire in Lebanon appeared to revive efforts to turn an interim Iran war pact ​into a lasting regional deal, Reuters reported.

Israel and Hezbollah agreed to a ceasefire in Lebanon on Friday after escalating fighting cast doubt over U.S.-Iran talks critical to reopening the Strait of Hormuz ‌and stabilising oil supplies.

That followed a 14-point memorandum the two sides signed this week to halt fighting and open a 60-day window to resolve disputes over Iran’s nuclear program, as well as other thorny issues needed to forge a more durable deal.

U.S. Vice President JD Vance canceled plans on Thursday to travel to Switzerland for the talks, however, amid rising tension in Lebanon between Israel and Hezbollah, a militant group backed by Iran.

With the ceasefire in place, Witkoff is heading to Switzerland to join Jared Kushner, President ​Donald Trump’s son-in-law, who is already there, Axios said. Araqchi plans to travel there on Saturday, it added.

The development may signal that both sides intend to begin technical negotiations aimed at securing a permanent ​truce.

The White House did not respond to questions about Witkoff’s travel.

A senior U.S. official said the ceasefire took effect around 4 p.m. (1300 GMT) in Lebanon following an ⁠exchange of fire, adding that negotiators for the United States and Qatar had worked out the agreement with help from Iran, read the report.

Two sources from Hezbollah and a senior Israeli official confirmed the ceasefire to Reuters.

“If Hezbollah does not ​attack us, then for us it is not a time of war,” the Israeli official said, adding that Israel would keep its forces in southern Lebanon, where it has occupied an area along its northern border.

Two Lebanese security ​sources said Israel had carried out a dozen airstrikes in the first hour of the ceasefire but none were recorded after 5 p.m.

Lebanon’s health ministry said Israeli strikes after midnight into Friday had killed 47 people and wounded 97, while the Israeli military said four soldiers had been killed in an incident in Lebanon, without giving further details.

The conflict in Lebanon could weigh on negotiations because ending fighting there is a condition for the broader U.S.-Iran accord.

Following Wednesday’s signing of the memorandum of understanding, preparations ​for technical talks at the Swiss mountaintop resort of Buergenstock were well advanced when the White House said on Thursday that Vance would not attend.

The Swiss foreign ministry said the talks had been postponed but Switzerland stood ready ​to facilitate them and preparatory work was continuing.

The broad interim deal requires the United States, Iran and their allies to declare an immediate and permanent termination of military operations on all fronts, including in Lebanon.

Israel, left out of the talks, says ‌it is ⁠not party to the deal.

Araqchi, in a telephone call with his Pakistani counterpart on Friday, said the United States would be responsible for any violation of its commitments under the deal, including ending the fighting in Lebanon, his ministry said.

Lebanon was sucked into the regional war when Hezbollah opened fire at Israel on March 2, prompting it to launch an offensive against the group and invade the south of the country.

Lebanese President Joseph Aoun condemned the latest Israeli attacks but said the escalation would not hinder efforts to reach a comprehensive ceasefire.

The U.S. State Department said Secretary of State Marco Rubio spoke to Aoun and reiterated the need to disarm ​Hezbollah, while reaffirming U.S. support for a “fully sovereign” Lebanese state.

It ​said they also discussed holding a next round ⁠of Israel-Lebanon negotiations in Washington from June 23 to June 25. The Lebanese presidency said a comprehensive ceasefire was a fundamental pillar for these talks.

The Iran war, which began on February 28 with U.S. and Israeli air attacks on Iran, has killed at least 7,000 people, mostly in Iran and Lebanon. It also ​pushed up energy prices, stoking inflation worldwide.

Brent crude ticked higher on Friday, but was set for a weekly fall of about 8% after the Lebanon ceasefire, and oil ​shipments through the Strait of ⁠Hormuz picked up after the signing of this week’s deal.

The strait carried nearly a fifth of global crude oil and liquefied natural gas supplies before it was blockaded by Iran during the war.

The body set up by Iran to manage the strait said on Friday it would waive planned fees during the interim deal’s negotiation period.

The MoU foresees relief for Iran from economic sanctions, the unfreezing of assets worth tens of billions of dollars and immediate U.S. waivers for its exports ⁠of oil. It ​also provides for a $300-billion reconstruction fund for Iran and other financial incentives.

Trump again defended the deal after criticism in Washington, including some ​from Republican allies in Congress who question whether he conceded too much to end a war unpopular with most Americans ahead of midterm elections in November.

“The War has diminished Iran!” he wrote on social media on Friday, adding, “We didn’t meet out of desperation, Iran did. They ​are FINISHED! We’ll play out the 60 days. They get no money, not 10 cents!”