The United States and Iran have agreed to a temporary two-week ceasefire just moments before a deadline set by Donald Trump, easing global fears of a major escalation.
As part of the agreement, Iran has consented to reopen the Strait of Hormuz for a limited period. The waterway is crucial for global energy supplies, and its reopening has helped calm concerns in international markets.
While the development has been welcomed worldwide, leaders have cautioned that the situation remains fragile. António Guterres urged all parties to use the opportunity to work toward a lasting and comprehensive peace.
Despite the truce, tensions remain high. Reports of explosions in Manama, the capital of Bahrain, have surfaced, with authorities attributing the incident to Iranian actions.
Both Washington and Tehran have portrayed the outcome as a victory.
Trump described the deal as a complete success for the United States, while Iran’s Supreme National Security Council claimed it had achieved a significant and historic win against its adversaries.
Iran has also indicated its willingness to begin fresh negotiations with the U.S., with talks expected to take place in Pakistan as both sides explore a more permanent resolution.
Meanwhile, the White House noted that Israel had agreed to the ceasefire. However, Benjamin Netanyahu clarified that the truce does not extend to operations in Lebanon, where Israeli forces continue military actions linked to clashes with Hezbollah.
Ahead of the agreement, heavy strikes were reported on Iranian infrastructure, including bridges and railway systems, while Iran responded with missile and drone attacks targeting locations across the Gulf region.
Financial markets reacted quickly to the ceasefire news. Oil prices dropped sharply, while gas prices and stock markets showed signs of recovery following weeks of uncertainty.
Trump stated that progress had been made toward a broader agreement, including discussions around Iran’s nuclear program. However, Iran has maintained firm positions, including demands for sanctions relief and recognition of its uranium enrichment activities.
Although the ceasefire has reduced immediate tensions, uncertainty remains over whether both sides can reach a long-term settlement or if hostilities could resume.