Donald Trump has outlined what comes next after the US and Israel reached a conditional two-week ceasefire agreement late on Tuesday night.
Only hours earlier, the president had warned that “a whole civilisation will die tonight” unless Iran agreed to reopen the Strait of Hormuz.
However, a last-minute breakthrough saw the US and Iran agree to an immediate two-week ceasefire, with the deal set to allow the key shipping route to reopen under coordination by the Iranian military.
Following the announcement, oil prices dropped sharply, with crude now trading well under $100 per barrel.
Trump shared news of the ceasefire on Truth Social and also laid out how the pause in hostilities would work.
He wrote: “Based on conversations with Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, of Pakistan, and wherein they requested that I hold off the destructive force being sent tonight to Iran, and subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz, I agree to suspend the bombing and attack of Iran for a period of two weeks. This will be a double sided CEASEFIRE!”
He then said the US had “met and exceeded all military objectives” in the Middle East, before adding: “We received a 10 point proposal from Iran, and believe it is a workable basis on which to negotiate. 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.”
The reported ten-point plan includes sanction relief for Iran, the unfreezing of Iranian funds and assets held by the US, an end to conflict across Iran, Iraq, Lebanon and Yemen, and a call for “full payment of compensation for reconstruction costs”.
In a subsequent Truth Social message, Trump expanded on what he said would happen during the ceasefire period.
“A big day for World Peace! Iran wants it to happen, they’ve had enough!” he began.
“Likewise, so has everyone else! The United States of America will be helping with the traffic buildup in the Strait of Hormuz. There will be lots of positive action! Big money will be made. Iran can start the reconstruction process.
“We’ll be loading up with supplies of all kinds, and just ‘hangin’ around’ in order to make sure that everything goes well. I feel confident that it will. Just like we are experiencing in the U.S., this could be the Golden Age of the Middle East!!!”