The United States and Iran have announced a two-week cease-fire with the Strait of Hormuz to reopen immediately following profound diplomatic efforts led by the Pakistani Prime Minister, Shehbaz Sharif.

President Donald Trump announced the truce on Tuesday evening, citing a 10-point proposal initiated by Iran, which includes the immediate opening of the strategic Strait of Hormuz waterway.”

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! The reason for doing so is that we have already met and exceeded all military objectives, and are very far along with a definitive Agreement concerning Long-term PEACE with Iran, and PEACE in the Middle East. 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. On behalf of the United States of America, as President, and also representing the Countries of the Middle East, it is an Honor to have this long-term close to resolution. Thank you for your attention to this matter! President DONALD J. TRUMP.”

Similarly, the Iranian President, Masoud Pezeshkian, has stated that the ceasefire announced this morning is in line with ”the general requirements desired” by Tehran.

His translated post on X reads”The ceasefire, with the acceptance of the general principles desired by Iran, was the fruit of the blood of our martyred leader, the great Khamenei, and the result of the participation of all the people in the arena.

From today, we will continue to stand together, whether in the field of diplomacy, in defence, on the streets, or in the realm of public service.”

French President Emmanuel Macron has welcomed the ceasefire between Iran and the US but warned that the situation in Lebanon remains critical and urged that Lebanon be included in the deal.

Other prominent Iranian officials who have lent their voices to President Masoud Pezeshkian’s include: Mohammad Reza Aref, Iran’s first Vice President, who wrote on X, ”the era of Iran has begun. At the same time, Iran’s Supreme National Security Council said the US has ” suffered an undeniable, historic and crushing defeat”.

Further, the 10-point proposal from Iran, which is believed to be a workable basis on which the United States and its allies wish to negotiate, is not far-fetched.

-Guarantee that Iran will not be attacked again

– End the war permanently, not just a ceasefire

– Stop Israeli strikes in Lebanon

– Lift all U.S sanctions imposed on Iran

– End all regional skirmishes against Iran’s allies

– Reopen the Strait of Hormuz

– Impose a fee of 2 million USD on every ship passing through the Strait of Hormuz

– Share these fees with Oman

– Establish rules for safe passage through the Strait of Hormuz and,

– Use Hormuz transit fees for reconstruction instead of reparations.

Meanwhile, the Pakistani Prime Minister, Shehbaz Sharif, in a statement released by his office, said he has received confirmation from Iran that it will participate in talks in Islamabad.

”Masoud Pezeshkian, confirmed Iran will take part in the negotiations with the US that seek to resolve the conflict”, he said.

So, as the US and Iran have agreed on a provisional two-week reprieve on the basis of a 10-point proposed plan by Iran, the markets have started cheering up and responding positively. Oil prices have started ebbing down, and it is a triumph of diplomacy, so to speak. However, what happens thereafter as the Pakistani delegation meets in the coming days remains very significant.