US President Donald Trump on Wednesday stepped back from the brink of a major escalation with Iran, pulling back threats of devastating strikes just hours before a self-imposed deadline for Tehran to concede. He agreed to a two-week ceasefire, opening a diplomatic window to de-escalate the 40-day conflict and Tehran also accepted the truce and agreed to conditionally reopen the Strait of Hormuz.
ower plants, and other civilian infrastructure, following what he described as a “workable” 10-point peace proposal put forward by Iran. Further talks aimed at securing a long-term peace in the Middle East are scheduled to take place between Washington and Tehran in Islamabad on Friday, April 10.
Even as diplomatic efforts gathered pace, uncertainty persisted on the ground. While Iran confirmed its acceptance of the ceasefire framework, missile alerts continued to be reported across the Gulf. Israel also supported the ceasefire for two weeks, specifying that the truce does not include Lebanon, where it continues to pound.
"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," Trump announced.
“If attacks on Iran are halted, our powerful armed forces will cease their defensive operations,” Iran said, adding it is considering the US request for negotiations based on its 15-point proposal, along with Washington’s acceptance of Iran’s 10-point plan as a framework for talks.
For a period of two weeks, safe passage through the Strait of Hormuz will be possible via coordination with Iran’s Armed Forces and with due consideration of technical limitations, Tehran added.
Iran claimed it as a victory for Tehran, with its Supreme National Security Council saying that Trump had accepted Iran’s conditions for ending hostilities. The White House, however, responded that the reality was that President Trump and the powerful US military had compelled Iran to agree to reopen the Strait of Hormuz.
Israel's Prime Minister Benjamin Netanyahu said the country supported the US's decision to suspend attacks against Iran for two weeks. However, he said the ceasefire does not include Lebanon, according to Israeli media. Tehran had said that any ceasefire must also include a halt to attacks in Lebanon, where Israel continues its bombardment.
Even after the truce plan was announced, missile alerts sounded across the Gulf in Saudi Arabia, Bahrain and Kuwait, as Iranian missiles were intercepted.
Iran’s long-term peace plan reportedly includes charging transit fees for ships passing through the Strait of Hormuz, in coordination with Oman, with Tehran saying the revenue would be used for reconstruction. Additionally, Iran’s conditions for ending the war include the withdrawal of US combat forces from the region, the lifting of sanctions, and the release of its frozen assets.
Pakistan Prime Minister Shehbaz Sharif, who has been a key negotiator, said the ceasefire also calls for Israel and Hezbollah to halt fighting in Lebanon. He has invited Iranian and US delegations to meet in Islamabad on Friday, wishing for sustainable peace and more good news in coming days.
Oil prices plunged below USD 100 a barrel and Asian markets and US stock futures jumped after the ceasefire announcement, which includes the reopening of the Strait of Hormuz. Futures for Brent Crude oil, the international standard, dropped 13.3 per cent to USD 94.74 and US crude oil sank 14.3 per cent to USD 96.83 a barrel.
Now in its sixth week, the war has claimed over 5,000 lives across nearly a dozen countries, including more than 1,600 civilians in Iran. US strikes have killed Iran's Supreme Leader Ayatollah Ali Khamenei, security chief Ali Larijani, and several other key figures, while destroying country's critical infrastructure.