Key Points
Iran ceasefire announced Sunday, Strait of Hormuz blockade ends Friday.
Carney welcomes deal, pledges Canadian support for regional stability and shipping.
G7 summit runs June 15-17 in Evian-les-Bains, France with 10 nations attending.
Canada prioritizes supply chain resilience to reduce exposure to commodity price shocks.
Prime Minister Mark Carney arrived in Evian-les-Bains, France on June 15 for the G7 summit, one day after the U.S. and Iran announced a ceasefire agreement. The deal, which includes permanent termination of military operations and reopening of the Strait of Hormuz, shifts the focus of global economic and geopolitical discussions. Carney said Canada will work with other nations to reinforce the agreement and build more resilient commodity systems.
Iran Ceasefire Tops the G7 Agenda
The U.S.-Iran ceasefire deal announced Sunday takes center stage at the three-day summit running June 15 to 17. U.S. President Donald Trump authorized an end to the naval blockade of the Strait of Hormuz, though the waterway remains closed until the deal is officially signed Friday in Switzerland. Carney told reporters the war in Iran is “topic number one” at the G7, with Ukraine also a key issue.
Canada Pledges Support for Regional Stability
Carney said Canada “very much” welcomes the ceasefire and thanked Pakistan and Qatar for their roles in brokering the agreement. He stated that Canada will work with other countries to reinforce the deal and help restore safe shipping through the Strait of Hormuz. The blockade has driven up global oil prices and disrupted commodity flows for months.
Building Resilient Supply Chains
Carney linked the Middle East conflict to Canada’s broader push for supply chain diversification. He said the ceasefire “underscores” the need to make energy, fertilizer, and commodity systems more resilient to future shocks. The prime minister spent the weekend in Ireland before flying to France, where he will meet with European leaders on geopolitical and economic issues Monday evening.
No Bilateral Meeting Scheduled With Trump
Carney’s schedule does not include a confirmed bilateral meeting with Trump, though the U.S. president is expected to attend the summit. The two leaders have disagreed on NATO, Ukraine, and trade since Trump returned to office. Carney is scheduled to meet with European Council President Antonio Costa and European Commission President Ursula von der Leyen on Monday.
Final Thoughts
The Iran ceasefire reshapes G7 priorities toward energy security and supply chain resilience. Carney’s focus on diversification signals Canada’s strategy to reduce exposure to geopolitical shocks and commodity volatility.
FAQs
The agreement includes permanent termination of military operations on all fronts, including Lebanon. The Strait of Hormuz blockade ends Friday upon official signing in Switzerland.
The blockade raised global oil prices and disrupted commodity flows. Canada seeks to restore shipping to stabilize energy and fertilizer systems affecting Canadian consumers and businesses.
No bilateral meeting is confirmed. Carney is meeting with European leaders, though Trump is expected to attend the three-day summit.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
About Author

Huzaifa Zahoor
Co FounderHuzaifa Zahoor is the engineer who built Meyka. He has spent years writing Python, training AI models, and building data pipelines specifically for financial markets. His technical articles have reached over 30,000 readers on Medium, so he knows how to make complex things easy to follow. If this article touches on how the tools work, he is the person who actually built them.
What brings you to Meyka?
Pick what interests you most and we will get you started.
I'm here to read news
Find more articles like this one
I'm here to research stocks
Ask Meyka Analyst about any stock
I'm here to track my Portfolio
Get daily updates and alerts (coming March 2026)