The United States and Iran have agreed to a two-week ceasefire in exchange for a reopening of the Strait of Hormuz, just over an hour before Donald Trump’s ultimatum expired, threatening to destroy the Islamic Republic. After more than five weeks of Israeli-American airstrikes on Iran, Tehran announced on Wednesday, April 8 at dawn that talks would begin on Friday with Washington. The negotiations will take place in Pakistan, a mediator in the Middle East conflict.
Shortly after, Donald Trump deemed the Iran agreement a “total and complete victory,” suggesting that China had prompted Iran to negotiate. Tehran presented a ten-point proposal that “[constitutes a viable basis for negotiation].” Iranian leaders confirmed their willingness to reopen the Strait of Hormuz “for a period of two weeks” if attacks on Iran cease, according to the Minister of Foreign Affairs, Abbas Araghchi.
Israel has excluded Lebanon from the ceasefire, expressing support for Donald Trump’s decision to halt strikes against Iran. However, they clarified that the truce did not include Lebanon. This contradicts an earlier statement by Pakistani Prime Minister Shehbaz Sharif, who claimed that the ceasefire applied everywhere, including Lebanon and other regions.
The announcement of an agreement between Washington and Tehran was well-received in the markets: oil prices quickly dropped by over 15%, going below $100 (85 euros) per barrel, and the Tokyo and Seoul stock exchanges soared by 4% and 6% respectively at opening.
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