The United States and Iran have agreed to a two-week ceasefire to avert further escalation in the ongoing conflict, with negotiations expected to begin shortly.
The truce follows weeks of intense hostilities triggered by the US-Israel strikes on Iran in February 2026, which have destabilised the region and disrupted global energy markets.
Here’s a breakdown of what is known so far about the agreement:
US position
US President Donald Trump described the ceasefire as a “total and complete victory” for Washington.
Under the agreement, the United States will suspend attacks on Iran for two weeks, while Tehran will reopen the Strait of Hormuz, a critical global oil transit route.
Mr Trump said Iran agreed to the “complete, immediate, and safe opening” of the strait, adding that discussions with Pakistan played a key role in brokering the deal.
He also claimed that Iran’s enriched uranium would be “perfectly taken care of” during the truce, although details remain unclear.
Earlier US demands—including halting uranium enrichment, limiting missile development, and ending support for regional militant groups—were not explicitly included in the latest agreement.
Iran’s stance
Iranian Foreign Minister Abbas Araghchi confirmed that Tehran would allow safe passage through the Strait of Hormuz for the duration of the ceasefire.
Mr Araghchi said Iran has proposed a 10-point plan as a framework for negotiations, which Mr Trump described as “workable.”
Key elements of Iran’s proposal include continued control over the strait, recognition of its uranium enrichment programme, lifting of sanctions, and withdrawal of US forces from the region.
Other demands include the release of frozen Iranian assets and a binding resolution by the United Nations Security Council.
However, several of these conditions have previously been rejected by Washington, indicating potential hurdles in upcoming talks.
Israel’s position
Israel has backed the US decision to pause attacks on Iran but clarified that the ceasefire does not extend to Lebanon.
Israeli authorities maintain that operations against Iran-backed Hezbollah will continue, following months of cross-border hostilities that have resulted in significant casualties.
This stance contradicts earlier remarks by Pakistan’s Prime Minister Shehbaz Sharif, who suggested the truce could apply more broadly across the region.
What happens next
Mr Sharif said the ceasefire would take immediate effect, with talks between US and Iranian representatives expected to begin in Islamabad on Friday.
The negotiations aim to reach a long-term agreement, although the White House has indicated that final arrangements are still being worked out.
Iran has signalled willingness to use the two-week window to pursue diplomatic engagement.
Global impact
The announcement of the truce has already influenced global markets, with oil prices dropping after confirmation that the Strait of Hormuz would reopen.
The waterway accounts for a significant portion of global oil shipments, and its reopening could ease supply pressures on countries dependent on energy imports.
Background
The conflict between the US and Iran escalated in February 2026 following coordinated strikes involving the US and Israel, leading to retaliatory actions by Tehran and disruptions across the Middle East.
Iran’s temporary closure of the Strait of Hormuz heightened global economic concerns, as the route handles roughly one-fifth of the world’s oil supply.
Diplomatic efforts, including mediation by Pakistan, have sought to prevent a broader regional war.
While the ceasefire offers short-term relief and opens the door to negotiations, deep divisions remain between the two sides on critical issues such as nuclear policy, regional influence, and sanctions.
The outcome of the talks could determine whether the truce leads to lasting peace or merely a pause in hostilities.
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