US President Donald Trump says he has agreed to a proposed two-week ceasefire between the US and Iran if shipping traffic is allowed to move through the Strait of Hormuz.
In a social media post, Trump said that both sides should agree to a “two-sided ceasefire”, claiming the US has already achieved its military goals and that the conflict may be close to being resolved.
Earlier, Trump warned Iran that he could target important infrastructure like power plants and bridges if Tehran did not agree to his demands, which include reopening the Strait of Hormuz. He had set a deadline for this decision for 5:30 AM Indian Standard Time today.
On the other side, Iranian Foreign Minister Abbas Araghchi also announced that Iran will agree to a ceasefire if attacks against Iran are halted.
In a statement, he announced that for a period of two weeks, safe passage through the Strait of Hormuz will be possible.
He said this will take place via co-ordination with Iran’s Armed Forces and with due consideration of technical limitations. Meanwhile, Iran’s Supreme National Security Council claimed a historic victory, asserting the US accepted Tehran’s 10-point plan.
Last night, Trump had issued a stark warning on a social media post that an entire civilisation could be wiped out, never to return.
Global oil prices have fallen sharply and stock markets have jumped after US and Iran agreed to a conditional two-week ceasefire deal. The price of benchmark Brent crude dropped below 100 US dollars, falling by about 15.9 percent to 92.30 US dollars a barrel, while US-traded oil was almost 16.5 percent lower at 93.80 US dollars.
According to media reports, the US administration is now preparing for direct talks with Iran. The US delegation will likely be led by Vice President JD Vance.
The objective is to finalise a framework for a long-term agreement. White House Press Secretary Karoline Leavitt acknowledged that discussions for face-to-face talks are underway. She clarified that the final announcement will come from the President or the White House.
