Mark Carney and several European leaders have welcomed a reported ceasefire between the United States and Iran, calling it a “positive development” and urging swift progress toward a lasting peace.
In a joint statement, leaders emphasized the need for the ceasefire to extend across the region, including Lebanon, and stressed that protecting civilians and stabilizing global markets must remain priorities.
The fragile agreement, however, faces immediate challenges. Disputes over its terms — including whether it applies to Lebanon and the reopening of the Strait of Hormuz — have already led to renewed tensions and continued military activity.
Donald Trump signalled that U.S. forces will remain in the region until a final agreement is fully implemented, while Iran has reportedly taken steps that could further disrupt shipping through the critical oil route.
With roughly one-fifth of the world’s oil flowing through the strait, Carney warned that restoring access is essential to stabilizing fuel prices and global supply chains.
Despite ongoing negotiations, uncertainty remains high, with both sides continuing military actions even as diplomatic efforts intensify.