Rishi Sunak is expected to join the US in conducting joint airstrikes against Houthi rebels following an urgent Cabinet meeting this evening.
The Prime Minister is said to have briefed his ministers on a possible military intervention following a number of attacks in the Red Sea.
Sir Keir Starmer and Sir Lindsay Hoyle have been briefed on the latest situation.
According to the Times, strikes could take place as early as tonight.
The urgent Cabinet meeting is reported to have begun at approximately 7.45pm this evening.
Rishi Sunak calls urgent Cabinet meeting to brief ministers on military actionGetty ImagesWATCH HERE: Houthi rebels attack cargo ship in Red Sea
UK and US warships were sent to the region in a bid to help stabilise the region which has been rocked by the crisis in Gaza.
The attack was made in collaboration with US forces amid what was reported to be the largest drone and missile attack to date.
Shapps said after the attack that the UK could be ready to strike and warned Iran that “enough is enough”.
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Grant Shapps issued a chilling warning as UK repels Houthi attack in Red Sea
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Attacks in the Red Sea have caused companies to avoid the shipping lane and take longer routes around Cape of Good Hope in Africa, threatening to drive up the cost of everyday products in the UK imported from overseas.
The expected Cabinet meeting comes after an emergency Cobra meeting this morning along with a meeting of the national security council.
Shapps accused Iran of being “heavily behind” the Houthi rebel attacks and said Tehran provided the militant group with “eyes and ears” for their missions.
“This cannot continue and we won’t allow it to continue so watch this space,” Shapps said at a press conference earlier this week.
Houthi fighters have been attacking ships in the Red SeaReutersWhitehall watchers have suggested that the reason for the Cabinet meeting will be to discuss a military response.
“You don't hold an emergency cabinet meeting unless you're considering a military response,” Sir William Patey, a former ambassador to several countries in the Middle East, told Sky News.
“The Americans have clearly put some military options on the table and have invited us to participate.”
According to the US, there have been as many as 27 attacks on international shipping since mid-November.
In an update during the Cabinet meeting, No10 confirmed Sunak called Egyptian President Abdul Fattah al-Sisi this afternoon.
A No10 spokesman said: “They discussed the concerning rise in Houthi attacks on commercial vessels in the Red Sea and the disruptive impact on global shipping, including through the Suez Canal.
“The Prime Minister said the UK would continue to take action to defend freedom of navigation and protect lives at sea.”
President Biden is expected to make a statement in a matter of hours on the potential strikes.