The United States and Iran have agreed to a two-week ceasefire in exchange for reopening 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 strikes on Iran, Tehran announced on Wednesday, April 8 at dawn that talks would begin from Friday with Washington. They will take place in Pakistan, a mediator in the Middle East conflict.
Shortly after, Donald Trump hailed the Iran agreement as a “total and complete victory,” adding that, in his view, China had encouraged Iran to negotiate. Tehran presented a ten-point proposal that “constitutes a viable basis for negotiation.” Iranian leaders confirmed that they agreed to reopen the Strait of Hormuz for a “period of two weeks” if attacks against Iran cease, according to Foreign Minister Abbas Araghchi.
Israel Excludes Lebanon from Ceasefire
Israel expressed support for Donald Trump’s decision to halt strikes against Iran but clarified that the ceasefire does not include Lebanon. This statement contradicts an earlier announcement by Pakistani Prime Minister Shehbaz Sharif, assuring that the ceasefire applied everywhere, including Lebanon and beyond.
The news of an agreement between Washington and Tehran was warmly received in the markets: oil prices quickly dropped by more than 15%, falling back below $100 (85 euros) per barrel, and the Tokyo and Seoul stock markets soared by 4% and 6% respectively at the opening.
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