G7 Summit Puts Ukraine and Iran in Focus as Canada Watches Hormuz and Gas Prices

G7 leaders continued their meetings on Tuesday, June 16, 2026, in Évian-les-Bains, France, with Ukraine, the Middle East and energy security at the centre of the summit agenda. The summit runs from June 15 to 17 and brings together Canada, France, Germany, Italy, Japan, the United Kingdom, the United States and the European Union. The European Council says working sessions are covering geopolitical challenges, peace and security for Ukraine and Europe, the situation in the Middle East, economic growth and artificial intelligence.

On Ukraine, President Volodymyr Zelenskyy attended the summit to take part in talks on the war with Russia and to seek stronger international support. Reuters reported that Zelenskyy arrived in Évian on Tuesday and was welcomed by French President Emmanuel Macron before a working session titled “Building peace in Ukraine.”

Iran also moved to the centre of the summit after U.S. President Donald Trump said the agreement with Tehran was moving to a “second stage.” Speaking to reporters on the sidelines of the G7 summit, Trump said the deal was done and would move into a next phase, but he did not provide full implementation details.

The development brought the Strait of Hormuz into the summit discussions because the waterway is a key route for global oil and gas shipments. Reuters reported that Tuesday’s talks would cover the safe reopening of the strait, including a possible French-British-led maritime mission, as well as alternative energy routes if risks continue.

For Canada, the issue is both diplomatic and economic. Prime Minister Mark Carney said Canada is ready to help support the restoration of shipping through the Strait of Hormuz if the announced U.S.-Iran progress becomes an agreement that can be implemented. Global News reported that Carney said Canada “very much welcomes this progress” and that the Middle East crisis underlines the need to make commodity and energy systems more resilient to conflict-related shocks.

Canada also joined France, Germany, Italy and the United Kingdom in a statement saying the latest developments offer an opportunity to restore regional stability and stabilize the global economy. According to Global News, the statement stressed the need to complete detailed negotiations and implement the agreement rapidly and comprehensively, while saying the Strait of Hormuz must be open to shipping.

The issue matters directly to Canadian consumers because disruptions in oil flows through the Strait of Hormuz can affect energy markets and, eventually, gas, transportation and travel costs. Global News reported that a U.S.-Iran agreement could help oil move through the region again, but experts warned that Canadian gas prices may not quickly return to pre-conflict levels because of damage and bottlenecks in supply chains.

According to the same report, experts say some relief at the pump could appear within days or weeks if shipping through the strait resumes in practice, but a wider return to normal energy markets could take months and may be slow and uneven. The report also said the national average for regular gasoline in Canada was just under $1.66 per litre at the time of publication, after much higher prices during the peak of the crisis.

For Canada, the G7 summit is therefore not only a diplomatic event. It brings together support for Ukraine, the U.S.-Iran file, shipping security in the Strait of Hormuz and the possible impact on energy prices paid by consumers. Canada’s position is to welcome de-escalation, while waiting for actual implementation before judging the economic effect.