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Carney Cements CanadaNordic Security Plan, Rejects U.S. Oil Easing, Meets Starmer on Iran Fallout

Canada has pledged 23.6 million barrels to an IEA release to steady oil markets.

Overview

  • Canada and the five Nordic prime ministers issued a joint statement in Oslo to deepen cooperation on defence industrial capacity, Arctic security, trade and technology, with regularized coordination as a like‑minded bloc.
  • The six leaders committed to continued economic, civilian, military and humanitarian assistance to Ukraine and to aligning sanctions to further restrict the Kremlin’s war financing.
  • Carney joined Norway’s Jonas Gahr Støre and Germany’s Friedrich Merz in publicly criticizing Washington’s temporary easing of restrictions on Russian oil shipments, reaffirming that Canada will uphold its sanctions, including on the shadow fleet.
  • In London, Carney and U.K. Prime Minister Keir Starmer condemned Iran’s missile and drone attacks and discussed the disruption to the Strait of Hormuz, as Starmer said reopening the waterway is necessary but complex and the U.K. weighs naval options.
  • Responding to tight energy markets, Ottawa committed 23.6 million barrels to an IEA-coordinated release, even though Canada lacks a strategic reserve as a net exporter, while the U.S. signaled a 172‑million‑barrel draw from its stockpile.