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The US and Iran agreed to a two-week conditional ceasefire on Tuesday evening, which included a temporary reopening of the strait of Hormuz.
The breakthrough came after a last-minute diplomatic intervention led by Pakistan, canceling an ultimatum from Donald Trump for Iran to surrender or face widespread destruction.
Trumpâs announcement of the ceasefire agreement came less than two hours before the US presidentâs self-imposed 8pm Eastern time deadline to bomb Iranâs power plants and bridges in a move that legal scholars, as well as officials from numerous countries and the pope, had warned could constitute war crimes.
Just hours earlier, Trump had written on Truth Social: âA whole civilization will die tonight, never to be brought back again. I donât want that to happen, but it probably will.â American B-52 bombers were reported to be en route to Iran before the ceasefire agreement was announced.
But by Tuesday evening, Trump announced that a ceasefire agreement had been mediated through Pakistan, whose prime minister, Shehbaz Sharif, had requested the two-week peace in order to âallow diplomacy to run its courseâ.
Trump wrote in a post that âsubject 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 weeksâ.
In a separate post later, the US president called Tuesday âa big day for world peaceâ on a social media post, claiming that Iran had âhad enoughâ. He said the US would be âhelping with the traffic buildupâ in the strait of Hormuz and that âbig money will be madeâ as Iran begins reconstruction.
For several hours afterwards, Israelâs position or agreement with the deal was unclear. But just before midnight ET, the prime minister, Benjamin Netanyahu, said Israel backed the US ceasefire with Iran but that the deal did not cover fighting against Hezbollah in Lebanon. His office said Israel also supported US efforts to ensure Iran no longer posed a nuclear or missile threat.
Pakistanâs prime minister had previously said that the agreed-upon ceasefire covered âeverywhere including Lebanonâ.
The ceasefire process was clouded in uncertainty after Iran released two different versions of the 10-point plan intended to be the basis for negotiations, and which Trump said was a âworkable basis on which to negotiateâ.
In the version released in Farsi, Iran included the phrase âacceptance of enrichmentâ for its nuclear program. But for reasons that remain unclear, that phrase was missing in English versions shared by Iranian diplomats to journalists.
Pakistan has invited the US and Iran to talks in Islamabad on Friday. Tehran said it would attend, but Washington has yet to publicly accept the invitation.
In a telephone call with Agence France-Presse, Trump said he believed China had persuaded Iran to negotiate, and said Tehranâs enriched uranium would be âperfectly taken care ofâ, without providing more detail.
In the two-week ceasefire, Trump said, he believed the US and Iran could negotiate over the 10-point proposal that would allow an armistice to be âfinalized and consummatedâ.
âThis will be a double sided CEASEFIRE!â he continued. âThe reason for doing so is that we have already met and exceeded all Military objectives, and are very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East.â
Iranâs foreign minister, Abbas Araghchi, issued a statement shortly after Trumpâs announcement saying Iran had agreed to the ceasefire. âFor a period of two weeks, safe passage through the Strait of Hormuz will be possible via coordinating with Iranâs Armed Forces,â he wrote.
Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fueled by hopes that oil and gas flows through the strait of Hormuz could resume.
-Despite the provisional ceasefire, attacks continued across the region in the hours after Trumpâs announcement. Before the deadline, airstrikes hit two bridges and a train station in Iran, and the US hit military infrastructure on Kharg Island, a key hub for Iranian oil production.
The sudden about-face will allow Trump to step back as the US war in Iran has dragged on for five weeks with little sign that Tehran is ready to surrender or release its hold on the strait, a conduit for a fifth of the global energy supply, where traffic has slowed to a trickle.
Trump had earlier rejected the 10-point plan as ânot good enoughâ but the president has set deadlines before and allowed them to pass over the five weeks of the conflict. Yet he insisted on Tuesday the ensuing hours would be âone of the most important moments in the long and complex history of the Worldâ unless âsomething revolutionarily wonderfulâ happened, with âless radicalized mindsâ in Iranâs leadership.
News of the provisional ceasefire deal was welcomed but with a note of caution elsewhere.
Iraqâs foreign ministry called for âserious and sustainable dialogueâ between the US and Iran âto address the root causes of the disputesâ, while the German foreign minister, Johann Wadephul, said the deal âmust be the crucial first step towards lasting peace, for the consequences of the war continuing would be incalculableâ.
In Australia, the government warned that the latest developments would not necessarily mean the fuel crisis is over. Oil prices fell as traders bet that the reopening of the strait of Hormuz would help fuel supply resume, but the energy minister, Chris Bowen, told reporters Australians should ânot get ahead of ourselvesâ.
He said: âPeople shouldnât take todayâs progress and expect prices to fall. We welcome progress, but I donât think we can say the [strait of Hormuz is] now open.â
A spokesperson for New Zealandâs foreign minister, Winston Peters, welcomed the âencouraging newsâ but noted âthere remains significant important work to be done to secure a lasting ceasefireâ.
Japan said it expected the move to result in a âfinal agreementâ after Washington and Tehran begin talks on Friday. Describing the ceasefire as a âpositive moveâ, the chief cabinet secretary, Minoru Kihara, said Tokyo wanted to see a de-escalation on the ground in the region, adding that the prime minister, Sanae Takaichi, was seeking talks with the Iranian president, Masoud Pezeshkian.
A temporary end to hostilities will come as a relief to Japan, which depends on the Middle East for about 90% of its crude oil imports, most of which is transported through the strait of Hormuz.
South Koreaâs ministry of foreign affairs said it hoped ânegotiations between the two sides will be successfully concluded and that peace and stability in the Middle East will be restored at an early dateâ, as well as wishes for âfree and safe navigation of all vessels through the strait of Hormuzâ.
