• The United States and Iran has agreed to a last-minute two-week ceasefire, averting imminent large-scale military action
• Iran will temporarily reopen the Strait of Hormuz to ease global economic concerns
• International leaders, including the United Nations, are urging efforts toward a lasting and comprehensive peace deal

The United States and Iran reached a last-minute agreement on a two-week ceasefire just an hour before a military deadline set by Donald Trump, easing global tensions while leaving uncertainty about long-term peace.

The truce includes Tehran’s commitment to temporarily reopen the Strait of Hormuz, a critical route for global oil, gas, and fertiliser shipments. The move helped calm fears surrounding the already strained global economy.

Despite widespread international relief, concerns linger. UN Secretary-General Antonio Guterres urged all sides to “pave the way towards a lasting and comprehensive peace.”

Tensions remained evident, however, as explosions were reported in Manama, the capital of Bahrain, with authorities attributing the incident to “Iranian aggression.”

Both Washington and Tehran quickly declared victory following the more than month-long conflict. Trump described the agreement as a “total and complete victory” for the US.

Iran echoed similar sentiments, with its Supreme National Security Council stating:

“The enemy has suffered an undeniable, historic and crushing defeat in its cowardly, illegal and criminal war against the Iranian nation.

Iran achieved a great victory.”

The White House indicated that Israel had agreed to the ceasefire, but Prime Minister Benjamin Netanyahu clarified that the truce does not extend to Lebanon.

Israeli operations there continued, particularly near the southern city of Tyre, where fresh evacuation warnings and strikes were reported.

Trump revealed that Pakistan played a role in de-escalating tensions, saying its leaders “requested that I hold off the destructive force being sent tonight to Iran.” He also suggested China may have influenced Tehran’s decision to negotiate.

On his Truth Social platform, Trump wrote: “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.”

Iranian Foreign Minister Abbas Araghchi confirmed safe maritime passage through the strait during the truce period, stating: “If attacks against Iran are halted, our Powerful Armed Forces will cease their defensive operations.”

The ceasefire triggered a sharp response in global markets, with oil prices dropping by over 17 percent and European natural gas prices falling by 20 percent. Stock markets across Asia also rallied.

Trump disclosed that negotiations for a long-term deal were progressing, noting Iran had presented a “workable” 10-point proposal.

However, Tehran’s publicly stated demands include lifting US sanctions, asserting control over the strait, and removing US forces from the region.

A major sticking point remains Iran’s uranium enrichment programme. While Trump has claimed Iran was nearing nuclear weapon capability, this has not been confirmed by international observers. He insisted any agreement would address the issue, saying: “That will be perfectly taken care of, or I wouldn’t have settled.”

Before the ceasefire took effect, US and Israeli forces carried out strikes on key Iranian infrastructure, including railways and bridges allegedly linked to the Revolutionary Guards.

Iran responded with weeks of drone and missile attacks targeting Gulf states hosting US military assets.

The United Arab Emirates, heavily affected by these attacks, also claimed success. Presidential adviser Anwar Gargash stated: “The UAE emerged victorious from a war we sincerely sought to avoid.”

Global leaders have since emphasised the importance of turning the fragile ceasefire into a lasting agreement. Oman called for intensified diplomatic efforts, while UK Prime Minister Keir Starmer pledged to support peace efforts during a visit to the Gulf.

No deal in sight: Iran rejects US proposal amid rising war tensions

Meanwhile, TheRadar earlier reported that Iran had dismissed claims of ongoing negotiations with the United States, insisting that while it continues to receive messages from Washington, no formal talks are taking place.

Iran’s Foreign Minister, Abbas Araghchi, stated in an interview with Al Jazeera that Tehran had not responded to a reported 15-point US proposal aimed at ending the ongoing conflict.