The US and Iran agreed on Tuesday to a two-week ceasefire about an hour before the expiration of the ultimatum issued to Iran, and Tehran agreed to temporarily reopen the Strait of Hormuz to shipping, LETA reported citing AFP.
Iran characterized this ceasefire as its victory and announced that it agreed to negotiations with the US, which will begin on Friday in Pakistan, on a path to ending the war.
Donald Trump stated that he spoke with the leaders of Pakistan, who "asked me to delay sending destructive force to Iran tonight."
"If the Islamic Republic of Iran agrees to the complete, immediate, and safe opening of the Strait of Hormuz, then I agree to suspend bombings and attacks on Iran for a two-week period," Trump stated on his social media platform, Truth Social.
Iranian Foreign Minister Abbas Araghchi confirmed safe navigation through the Strait of Hormuz for two weeks.
"If attacks on Iran are stopped, our powerful armed forces will cease their defensive operations," Araghchi said.
Pakistani Prime Minister Shehbaz Sharif, who played an important mediating role, stated that the ceasefire should begin immediately.
He noted that the US "with its allies" agreed to a ceasefire everywhere, including Lebanon. This means that Israel agreed to stop its invasion of Lebanon.
Following the announcement of the ceasefire, global oil prices fell by more than 17%, while stock prices rose in morning trading on Asian exchanges on Wednesday.
Trump stated that the US has made "great progress in achieving a certain agreement for long-term peace with Iran and peace in the Middle East."
"We received a 10-point proposal from Iran and believe it is a workable basis for negotiations," Trump said.
Iran published these 10 points, which, however, contain maximalist demands, including the lifting of US sanctions, guarantees of Iran's "ownership" of the Strait of Hormuz, and the withdrawal of US armed forces from the region.
On Sunday, Trump demanded that Iran agree to the reopening of the Strait of Hormuz by Tuesday at 8:00 PM Washington time (Wednesday at 3:00 AM Latvian time). He threatened to destroy all bridges and power plants in Iran within hours if Tehran did not comply with the ultimatum's demands.
On Tuesday, Trump intensified these threats, warning that an "entire civilization" would perish in Iran if Tehran rejected the US ultimatum.
Pope Leo XIV stated that "these threats to the entire Iranian people" are "truly unacceptable."
