US President Donald Trump has agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face devastating attacks on its civilian infrastructure in which he had threatened ‘a whole civilization will die’.
Iran said talks between the US and Iran would begin on Friday in Islamabad, Pakistan, whose prime minister helped mediate the ceasefire.
The US has not yet confirmed in-person talks but says they are being discussed.
Donald Trump said Iran had presented a 10-point proposal that was a “workable basis” for negotiations and he expected an agreement to be “finalized and consummated” during the two-week window.
Donald Trump said the last-minute deal was subject to Iran’s agreement to pause its blockade of oil and gas supplies through the strait. Iran’s Foreign Minister, Abbas Araqchi, said in a statement Tehran would stop counter-attacks and provide safe passage through the strait.
Iran War 2026- Live Updates: Trump says he has agreed to two-week ceasefire with Iran
Iranian state TV said Trump had accepted Iran’s terms for ending the war, describing it as a “humiliating retreat” by the U.S. president.
In response, White House press secretary Karoline Leavitt said, “The truth is that President Trump and our powerful military got Iran to agree to reopening the Strait of Hormuz, and negotiations will continue.”
US stock futures were rising in the minutes following Trump’s message. Oil prices fell sharply, with U.S. crude futures dropping more than 17% to just over $92 a barrel.
However, a few minutes after Trump’s announcement, the Israeli military said it identified missiles launched from Iran towards Israel.
Gulf countries including Kuwait, Bahrain, Saudi Arabia and the United Arab Emirates also issued near-simultaneous alerts and activated air defenses.
Trump’s ceasefire announcement represented an abrupt turnaround from earlier in the day, when he issued an extraordinary warning that “a whole civilization will die tonight” if his demands were not met.
His threat unnerved world leaders and drew widespread condemnation.