U.S. President Donald Trump said on Tuesday that he had agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face widespread attacks on its civilian infrastructure.
Oil dived, bonds rallied and stocks surged as the ceasefire was seen as paving the way for a lasting peace and resumption of Gulf oil and gas exports, Reuters reported.
Iran says it has achieved a “great victory” and forced the United States to accept in principle its 10-point plan, according to a statement from Iran’s Supreme National Security Council reported by Iranian state media.
The council also said the US has recognized its continued control over the Strait of Hormuz. The council said controlled passage through the waterway would be carried out “in coordination with Iran’s armed forces,” according to the statement reported by state media.
Iranian officials have released multiple statements following the breakthrough announcement of a two-week ceasefire with the United States. An English version of the statement was obtained by CNN from Iranian officials and versions of the statement were reported on by multiple Iranian state media outlets.
The Trump administration is preparing for potential in-person negotiations between US and Iranian officials in the coming days, as the two sides work towards a long-term deal to end the war between Washington and Tehran, CNN reported citing officials.
President Donald Trump said he’d agreed to a two-week ceasefire with Iran on the condition that Iran agree to reopen the critical Strait of Hormuz.
Iran’s foreign minister Abbas Araghchi said safe passage through Strait of Hormuz will be possible for a period of two weeks via coordination with Iran’s armed forces.
The US president has shared a post on TruthSocial saying that the US “will be helping with the traffic buildup in the Strait of Hormuz”.
“We’ll be loading up with supplies of all kinds, and just “hangin’ around” to make sure that everything goes well, Trump said, adding that “this could be the Golden Age of the Middle East!!!”
Trump did not provide further details about what the US role would entail, but said that “big money will be made” and “Iran can start the reconstruction process”.
The AP news agency reported earlier that under the ceasefire deal, Iran will collect fees from ships transiting through the Strait of Hormuz to fund reconstruction.
“Based on conversations with Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, of Pakistan, and wherein they requested that I hold off the destructive force being sent tonight to Iran, and subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz, I agree to suspend the bombing and attack of Iran for a period of two weeks. This will be a double sided CEASEFIRE! The reason for doing so is that we have already met and exceeded all Military objectives, and are very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East. We received a 10 point proposal from Iran, and believe it is a workable basis on which to negotiate. Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two week period will allow the Agreement to be finalized and consummated. On behalf of the United States of America, as President, and also representing the Countries of the Middle East, it is an Honor to have this Longterm problem close to resolution,” Trump said on Truth Social.
Published by Armenpress, original at
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