Carney, European leaders welcome reported Iran-U.S. ceasefire in joint statement
OTTAWA — Prime Minister Mark Carney called a ceasefire agreement between the United States and Iran a “positive development” on Wednesday, and indicated Canada is still willing to help support the reopening of the Strait of Hormuz to restore stability to global oil markets.
But both developments were threatened later in the day when the U.S. and Iran disagreed over whether a ceasefire in Lebanon was part of their deal, and Iran closed the waterway again following further Israeli attacks on Hezbollah targets near Beirut.
One fifth of the world’s oil supply transits through the strait, which connects the Persian Gulf to the Gulf of Oman. The almost total closure of the strait since the war began more than a month ago has sent oil prices soaring across the globe.
The ceasefire deal was announced Tuesday evening after President Donald Trump threatened in a social media post earlier that day that “a whole civilization” would “die” if a deal to reopen the Strait of Hormuz was not reached.