Donald Trump has announced Iran agreed to a two-week ceasefire and that the Strait of Hormuz will be reopened after Tehran submitted a 10-point peace plan. 

Trump posted on Truth Social on Tuesday night: ‘I agree to suspend the bombing and attack of Iran for a period of two weeks.’

The President said that after talks with Pakistani Prime Minister Shehbaz Sharif he had been assured that Iran will agree ‘to the complete, immediate, and safe opening of the Strait of Hormuz.’

‘This will be a double sided ceasefire,’ Trump added. ‘The reason for doing so is that we have already met and exceeded all Military objectives, and are very far along with a definitive agreement concerning long-term peace with Iran.’

He noted that a 10-point proposal from Iran ‘is a workable basis on which to negotiate,’ despite saying on Monday that the deal was not ‘good enough.’  

Vance, along with Trump’s son-in-law Jared Kushner and Special Envoy Steve Witkoff have been leading US negotiations to end the war, dubbed Operation Epic Fury. The last-minute deal comes after Sharif posted on X that major breakthroughs have been made between US and Iranian negotiators.

‘A whole civilization will die tonight, never to be brought back again,’ Trump warned Tuesday morning should a deal not be reached by 8:00 pm ET on Tuesday. 

Israel has also agreed to a ceasefire and will halt attacks on Iran for two weeks, a senior White House official told Axios, adding that the ceasefire will take effect when Iran re-opens the Strait of Hormuz. 

Shortly after the ceasefire deal was announced, early alerts for incoming missile fire went out in Tel Aviv, Fox News reported.

The extension is the fourth Trump has offered the Islamic Republic amid the war since he first threatened to ‘obliterate’ Iran’s power plants on March 21. 

The Republican has been fixated on Iran striking a deal with the US to end its chokehold on the Strait of Hormuz, the strategic waterway off of the country’s coast through which a fifth of the world’s oil supply travels.

Iran has bombed multiple vessels that have made the dangerous decision to transit the strait. As a result, oil prices have skyrocketed and global markets have churned.

The average price for a gallon of regular gas has shot up from $2.98 to $4.14, a 39 percent increase. 

US crude oil prices plunged after Trump’s ceasefire announcement, with West Texas Intermediate contracts falling by more than 10 percent to $98 per barrel after hitting $116 earlier Tuesday. 

The US negotiators have demanded that Iran give up its nuclear enrichment capabilities, cut back its drone and ballistic missile programs, cease its support for proxies across the region and immediately reopen the Strait of Hormuz. 

The President has stressed repeatedly that the objectives of the war are to ensure Iran cannot create a nuclear weapon, its proxies cannot meddle with Middle Eastern countries, and Iran’s Navy, drone and ballistic missile capabilities are destroyed.

Iran proposed a 10-point counter-proposal to US negotiators via Pakistani officials on Monday after the US gave Islamabad a 15-point proposal to begin a ceasefire.

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