US and Iran agree to 2-week ceasefire

TEHRAN, Iran (AP) — U.S. President Donald Trump pulled back on his threats to launch devastating strikes on Iran late Tuesday, swerving to de-escalate the war less than two hours before the deadline he set for Tehran to capitulate or face a major escalation.

Trump said he was holding off on his threatened attacks on Iranian bridges, power plants, and other civilian targets as the U.S. and Iran agreed to a two-week ceasefire that includes the reopening of the Strait of Hormuz. He said Iran has proposed a “workable” 10-point peace plan that could help end the war.

Iran’s Supreme National Security Council said it has accepted the ceasefire and that it would negotiate with the United States in Islamabad beginning Friday. Neither Iran nor the United States said when the ceasefire would begin.

Iranian Foreign Minister Abbas Araghchi said passage through the strait would be allowed under Iranian military management. It wasn’t immediately clear whether that meant Iran would loosen its chokehold on the waterway.

The plan includes allowing both Iran and Oman to charge fees on ships transiting through the Strait of Hormuz, the narrow mouth of the Persian Gulf, a regional official said Wednesday. The official said Iran would use the money it raised for reconstruction.

In addition to control of the strait, Iran’s demands for ending the war include withdrawal of U.S. combat forces from the region, the lifting of sanctions, and the release of its frozen assets.

Even as the ceasefire was announced, missile alerts continued in the United Arab Emirates, Israel, Saudi Arabia, Bahrain, and Kuwait early Wednesday, hinting at the chaos surrounding the diplomatic moves. A gas processing facility in Abu Dhabi was ablaze after incoming Iranian fire, officials said.

The U.S. military has halted all offensive operations against Iran but continues defensive actions, said an official, who spoke on condition of anonymity to describe sensitive military operations.

Trump said in a social media post on Tuesday that he had come to the decision “based on conversations” with Pakistan Prime Minister Shehbaz Sharif and Gen. Asim Munir, Pakistan’s powerful army chief. Sharif, in a post on X hours earlier, urged Trump to extend his deadline by two weeks to allow diplomacy to advance. He used the same post to ask Iran to open the strait for two weeks.

“Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two-week period will allow the Agreement to be finalized and consummated,” Trump said.

Israel has also agreed to the ceasefire, according to a White House official who was not authorized to comment publicly and spoke on condition of anonymity. And Sharif said the ceasefire extends to Israel and Hezbollah halting fighting in Lebanon.

But there are concerns in Israel about the agreement, according to a person familiar with the situation who spoke on condition of anonymity because they were not allowed to speak to the media. The person said Israel would like to achieve more.

Iran’s stockpile of highly enriched uranium is still buried at enrichment sites. The program had been one of the main issues cited by both Israel and the U.S. in launching the war.

The U.S. and Israel have battered Iran with attacks targeting its military capabilities, leadership, and nuclear program. Iran has responded with a stream of strikes on Israel and Gulf Arab neighbors, causing regional chaos and outsized economic and political shock.

Before the deadline, airstrikes hit two bridges and a train station, and the U.S. hit military infrastructure on Kharg Island, a key hub for Iranian oil production.

While Iran cannot match the sophistication of U.S. and Israeli weaponry or their dominance in the air, its chokehold on the strait since the war began in late February is roiling the world economy and raising the pressure on Trump both at home and abroad to find a way out of the standoff.