Is this story really true? If so, Brits everywhere now wear a target.
If that's the deal, it isn't a problem - stating that we will never knowingly enter Iranian waters without permission is something we've been doing for years now. If the Iranians are willing to accept that it's a major climbdown - they're basically giving up and accepting the UK position.
All that is necessary for the triumph of New Labour is for good men to say nothing whilst CGS.