OTTAWA – A ceasefire between Israel and Iran is in effect, pausing attacks for two weeks as negotiations are expected to begin Friday, CBC News reported Wednesday morning. However, the agreement’s stability is already being questioned following reports of continued strikes across the region.

Strait of Hormuz Remains Partially Blocked

The agreement allows for limited passage through the Strait of Hormuz, a critical corridor for global energy. Despite this, meaningful traffic has yet to resume, though oil prices have fallen sharply, remaining higher than pre-war levels. Security and insurance concerns persist for tankers navigating the strait.

Fighting Continues in Lebanon

Meanwhile, fighting is ongoing in Lebanon. Israel stated its operations against Hezbollah are not included in the ceasefire, and has issued evacuation warnings for several neighborhoods. Lebanese authorities report 1,500 people have been killed since Israel launched its offensive.

Conflicting Claims of Victory

Both Iran and the U.S. claimed victory shortly after the ceasefire announcement. Sajjan Goel of the Asia Pacific Foundation, speaking on CBC News, stated that the ceasefire represents a “pause” rather than a resolution, noting significant disparities between the two countries’ positions. Goel highlighted Iran’s desire to retain its uranium stockpile – a “massive red line” for the U.S. and European nations – and its potential control over the Strait of Hormuz, which would be problematic for Gulf Arab states. He also noted Iran’s demand for the removal of sanctions imposed during the George W. Bush administration, a request the U.S. will likely find difficult to fulfill.

Defense analyst David DeRosch told CBC News he doubts the ceasefire will last more than four days, citing the vast differences between the two sides’ expectations. He noted Iran’s previous refusal to negotiate with the U.S. and the need to frame any concessions as a victory.

Explosions were reported at Israel’s border with Lebanon Wednesday morning. Israel maintains its fight against Hezbollah is separate from the ceasefire agreement with Iran. The broadcast also reported on allegations of forced labour practices at a BYD electric vehicle plant in Hungary, raising concerns about the ethical sourcing of materials for vehicles potentially entering the Canadian market.