In a breakthrough diplomatic development that has eased global geopolitical and energy market tensions, the United States and Iran have reached an agreement for a 14-day pause in military hostilities, announced Tuesday by former US President Donald Trump. The deal hinges on Tehran fully reopening the strategically critical Strait of Hormuz, a chokepoint through which nearly 20% of the world’s daily oil supplies pass.
Trump confirmed the agreement in a post on his social media platform Truth Social, noting he had held discussions with Pakistan’s prime minister, whose government has served as a neutral mediator between the two long-adversarial nations. “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 wrote, adding that the arrangement constitutes a bilateral ceasefire.
Iranian Foreign Minister Abbas Araghchi confirmed that for the duration of the 14-day truce, vessels will be allowed safe passage through the strait via coordination with Iranian armed forces, with adjustments made for existing technical constraints. According to Reuters reporting, US negotiators received a 10-point peace framework proposal from Iranian officials, which Trump described as “a workable basis on which to negotiate.”
Trump added that nearly all long-standing points of contention between the two countries have already been resolved, and the two-week window will allow negotiators to draft and finalize a formal, permanent agreement. Iran’s Supreme National Security Council announced in an official statement that the negotiation process will kick off this Friday in Islamabad, Pakistan, the neutral third-party host for the talks. Iranian state television has framed the ceasefire agreement as a strategic victory for the country.
The council also stressed that the temporary truce does not mark a full end to hostilities. Iran will only agree to a permanent ceasefire once all details of the 10-point framework are finalized and approved through negotiations, the statement clarified.
Global energy markets reacted immediately to the news of the truce, with crude oil prices plummeting in afternoon trading. West Texas Intermediate crude futures for May delivery dropped nearly 19 percent, falling below the $92 per barrel threshold as traders priced in the return of stable shipments through the key strait.
The announcement comes one day after anti-war demonstrators gathered outside the White House in Washington DC to protest potential US military expansion against Iran, highlighting widespread public opposition to a new major conflict in the Middle East.