Last-Minute Ceasefire Sees US and Iran Each Claim Victory as Strait of Hormuz Reopens

A ceasefire agreement between the United States and Iran was reached at the final hour, just before a deadline set by President Donald Trump, with both nations claiming victory in a conflict that lasted over a month and unsettled global oil markets.

The truce includes a temporary reopening of the key Strait of Hormuz, a vital route through which a significant share of the world’s oil passes.

Trump described the outcome as a major success, telling AFP it was a “total and complete victory” for the United States.

Iran also presented the agreement as a triumph, announcing plans to begin negotiations with Washington on Friday in Pakistan aimed at ending hostilities.

A statement from Iran’s Supreme National Security Council declared:
“The enemy has suffered an undeniable, historic and crushing defeat in its cowardly, illegal and criminal war against the Iranian nation.”

“Iran achieved a great victory.”

According to the White House, Israel has also agreed to the ceasefire. However, Israeli Prime Minister Benjamin Netanyahu said the deal excludes operations in Lebanon, where ongoing strikes against Hezbollah have caused significant casualties.

Israel had previously encouraged US involvement in the conflict, with early strikes reportedly killing Iran’s supreme leader, Ayatollah Ali Khamenei.

Trump said he consulted Pakistan’s leadership, who urged restraint, noting they “requested that I hold off the destructive force being sent tonight to Iran.” He also suggested China played a role in bringing Iran to negotiations.

He outlined the conditions of the truce on Truth Social:
“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.”

Iranian Foreign Minister Abbas Araghchi confirmed that maritime passage through the strait would resume under coordination with Iranian forces, stating that defensive operations would cease if attacks stop.

Following the announcement, oil prices dropped sharply by over 17 percent, while Asian stock markets recorded gains.

Trump said the two sides were making progress toward a longer-term settlement, noting that Iran had presented a 10-point proposal he considered “workable.” However, the Iranian proposal reportedly includes sweeping demands such as lifting sanctions, maintaining enrichment activities, and reducing foreign military presence in the region.

He reiterated that nuclear material concerns would be addressed in any final arrangement: “That will be perfectly taken care of, or I wouldn’t have settled,” though he provided no specifics.

When asked about previously issued threats against Iran’s infrastructure, Trump declined to clarify future actions, saying: “You’re going to have to see.”

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