USA-Iran: Two Weeks to Hammer Out a Peace Agreement

After more than five weeks of war, Washington and Tehran have agreed on a two-week ceasefire in exchange for a reopening of the Strait of Hormuz, just over an hour before the expiration of Donald Trump's ultimatum threatening to destroy the Islamic Republic.

Tehran indicated at dawn on Wednesday that talks would take place starting Friday with Washington. These discussions will be held in Pakistan, a key mediator in the Middle East war.

Israel has accepted the ceasefire with Iran, according to a White House official speaking on condition of anonymity.

"Following discussions with Prime Minister Shehbaz Sharif and Marshal Asim Munir of Pakistan, during which they asked me to suspend the military intervention planned for tonight against Iran, and provided that the Islamic Republic of Iran accepts the TOTAL, IMMEDIATE and SECURE OPENING of the Strait of Hormuz, I agree to suspend bombings and attacks against Iran for a period of two weeks," the American president wrote on his Truth Social platform.

The latest in a series of ultimatums issued by Donald Trump to Iran and repeatedly pushed back, gave Tehran until 8:00 PM Washington time (midnight GMT) to reopen the strategic maritime passage, through which 20% of the world's crude oil passed before the war.

"This will be a reciprocal CEASEFIRE!" added Mr. Trump, according to whom the United States "has already achieved and surpassed all our military objectives" since the launch of American-Israeli strikes on February 28.

He also reported "very advanced" discussions towards a "long-term" peace agreement with Iran. Tehran submitted "a 10-point proposal" which "constitutes a viable basis for negotiation."

The White House spokesperson stated the United States is considering "in-person discussions" with Iran, "but nothing is final until the President or the White House announces it," added Karoline Leavitt.

Iranian ten-point plan

For their part, Iranian leaders confirmed that they agreed to reopen the Strait of Hormuz "for a period of two weeks" "if attacks against Iran cease," Iranian Foreign Minister Abbas Araghchi wrote on X.

"It has been decided at the highest level that Iran will engage, for a period of two weeks (...), in negotiations with the American side in Islamabad," the Supreme National Security Council added in a statement.

"It is specified that this does not mean the end of the war, and that Iran will only accept the cessation of hostilities when" negotiations have concluded, he added, stressing that these two weeks could be extended "by agreement of both parties."

According to Iranian media, the ten-point plan submitted to the United States provides for Washington to accept the continuation of Tehran's uranium enrichment program and the lifting of all sanctions. The plan, published by the Supreme National Security Council, includes "the principle of non-agression, continued Iranian control of the Strait of Hormuz, acceptance of enrichment, the lifting of all primary sanctions, and the lifting of all secondary sanctions," Iranian state television and Mehr agency reported.

Iran also demands the cessation of resolutions against the Islamic Republic voted by the UN Security Council and by the Board of Governors of the International Atomic Energy Agency (IAEA), the payment of compensation to Iran, the withdrawal of American military forces from the region, and the cessation of fighting on all fronts, including that of southern Lebanon, where Hezbollah has drawn the country into the war against Israel.

Ceasefire applies to Lebanon

Pakistani Prime Minister Shehbaz Sharif welcomed the results obtained following his country's mediation, which is on good terms with all parties: "I am pleased to announce that the Islamic Republic of Iran and the United States, as well as their allies, have agreed to an immediate ceasefire everywhere, including in Lebanon and elsewhere, WITH IMMEDIATE EFFECT," Mr. Sharif wrote on X, using capital letters at the end of his message.

The Pakistani capital, Islamabad, will host delegations from both countries on Friday for negotiations aimed at reaching a "definitive agreement," he added.

Pakistan has emerged in recent weeks as a mediator between Tehran and Washington, seeking to prevent a further escalation of the conflict in the Middle East.

Mr. Sharif is notably one of the members of the "Peace Council" established a few months ago by Donald Trump.

Shortly before the announcement by the Pakistani Prime Minister, an Israeli strike killed eight and wounded 22 in a cafe on the waterfront in Sidon. (Mahmoud Zayyat/AFP)

Shortly before the announcement by the Pakistani Prime Minister, an Israeli strike killed eight and wounded 22 in the Lebanese city of Sidon, the Lebanese Ministry of Health announced on Wednesday.

For its part, the Israeli army reported three volleys of missiles fired by Iran towards its territory, moments after President Trump's announcement.

Oil plunges, stock markets soar

The announcement of the agreement was extremely well received in the markets: oil prices quickly dropped by more than 15%, falling below $100 per barrel, even approaching $90, and the Tokyo and Seoul stock exchanges soared by 4% and 6% respectively at the opening.