The United States and Iran agreed to a two-week ceasefire on Tuesday—just under an hour before a deadline set by Donald Trump to launch a major escalation in the conflict.
As part of the deal, Tehran will temporarily reopen the critical Strait of Hormuz, a key global oil route that had been closed in retaliation for weeks of attacks by U.S. and Israeli forces.
After more than a month of intense fighting, Iran described the ceasefire as a victory and confirmed it would enter talks with Washington later this week in Pakistan, which played a central role in mediating the agreement.
Trump said he delayed planned strikes after speaking with Pakistani leaders, agreeing to halt military action if Iran ensured the “complete, immediate, and safe” reopening of the vital waterway.
U.S. officials praised the deal as a major success, saying military pressure helped force Iran to the negotiating table and opened a path toward long-term peace.
Iranian Foreign Minister Abbas Araghchi confirmed that ships would have safe passage through the Strait for two weeks, adding that Iran would halt its defensive operations if attacks against it stop.
Pakistan’s Prime Minister Shehbaz Sharif said the ceasefire takes effect immediately and suggested it could extend to other regional conflicts, including tensions involving Israel and Lebanon.
Global markets reacted swiftly. Oil prices dropped sharply—falling more than 17 percent—while stock markets surged, reflecting relief that a broader regional war may have been avoided.
Despite the breakthrough, major disagreements remain. Iran has called for the lifting of long-standing U.S. sanctions and greater control over the Strait, while Washington says negotiations are ongoing toward a longer-term agreement.
The ceasefire follows weeks of deadly strikes across the region, with casualties reported in multiple countries and critical infrastructure damaged.
For now, the pause in fighting offers a narrow window for diplomacy—after a crisis that brought the region to the brink.
