Donald Trump announced Tuesday night that Iran has agreed to a two-week ceasefire and that the Strait of Hormuz will be re-opened after Tehran submitted a 10-point peace plan.
Trump posted on Truth Social on Tuesday night, ‘I agree to suspend the bombing and attack of Iran for a period of two weeks,’ after earlier sparking doomsday fears when he threatened to wipe out its ‘entire civilization.’
Iran accepted the Pakistan-brokered ceasefire deal after a last-minute intervention by China which asked Tehran to show flexibility amid concerns over the widespread economic impacts of the war, three Iranian officials told the New York Times.
The officials said that the ceasefire was approved by the new supreme leader, Ayatollah Mojtaba Khamenei, despite intelligence reports which say he is in a coma.
Iran’s foreign minister Abbas Araghchi confirmed the truce and that ‘safe passage through the Strait of Hormuz will be possible’ during the two-week period.
Israel has also agreed to a ceasefire and will halt attacks on Iran for two weeks, a senior White House official told Axios, adding that the ceasefire will take effect when Iran re-opens the Strait of Hormuz.
US crude oil prices plunged after Trump’s ceasefire announcement, with West Texas Intermediate contracts falling by more than 10 percent to $98 per barrel after hitting $116 earlier Tuesday.
Trump declares two-week ceasefire with Iran and claims Strait of Hormuz will re-open as Tehran submits 10-point peace plan to end the war
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