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🚨 BREAKING: Iran Agrees to Reopen Strait of Hormuz as US Declares 2-Week Ceasefire
Global oil prices tumble 16% as Trump halts strikes, citing "double sided CEASEFIRE"

DUBAI / WASHINGTON – In a dramatic last-minute diplomatic breakthrough, Iran has agreed to restore safe passage through the strategic Strait of Hormuz for a two-week period, averting a threatened US attack on Iranian civilian infrastructure that President Donald Trump warned would send the country "back to the Stone Ages" .

The deal, brokered by Pakistani Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, was announced just 90 minutes before Trump's deadline was set to expire at 8 p.m. EDT Tuesday .

✍️ The Deal at a Glance
Duration: 2 weeks, starting immediately
Navigation: Safe passage "via coordination with Iran's Armed Forces"
Talks: Begin Friday, April 10, in Islamabad, Pakistan
Key demand: Iran insists on compensation for war damages

🔑 What Iran Said
Iranian Foreign Minister Abbas Araghchi announced on social media that "safe passage through the Strait of Hormuz will be possible via coordination with Iran's Armed Forces and with due consideration of technical limitations" .

However, Tehran made clear this is not an end to the war. The Supreme National Security Council emphasized that Iran will only accept a permanent end to hostilities if the US accepts its 10-point plan, which includes demands for compensation and recognition of Iran's right to uranium enrichment .

🇺🇸 What Trump Said
On his Truth Social platform, Trump wrote: "Based on conversations with the Pakistani officials... and subject to 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."

He added: "This will be a double sided CEASEFIRE!"

📉 Market Reaction
Oil prices plunged approximately 16% immediately following the announcement, with US crude futures falling to around $97 per barrel. S&P 500 futures jumped 1.6% as markets breathed a sigh of relief .

🚢 'Dual-Corridor' System Emerges
Maritime analytics firm Windward reports that transit through the strait has already shifted to a "dual-corridor system" : a northern route controlled by Iran's Islamic Revolutionary Guard Corps (IRGC) and a newly established southern pathway along the Omani coast .

On April 5 alone, 11 vessels transited the strait — including the first LNG carrier to pass since hostilities erupted on February 28 .

⚠️ What's Next?
While the two-week pause offers a window for diplomacy, significant hurdles remain:

Negotiations begin Friday in Islamabad between US and Iranian delegations

Iran demands compensation for damages from US/Israeli strikes

Israel has reportedly agreed to the ceasefire but has not yet publicly commented

Global energy markets remain on edge as the truce is temporary

🌍 Why It Matters
The Strait of Hormuz handles approximately 20% of the world's LNG and 25% of seaborne oil trade . Its closure since late February has sent energy prices soaring and threatened a global recession.

For now, the world watches as Islamabad prepares to host what could be the most consequential US-Iran talks in decades.

— Reporting from wire services including CNA, Yonhap, Associated Press, and Reuters

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LIST of Commercial vessels attacked near the Strait of Hormuz as of 06 Mar 2026.

Source: Maritime News

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