Trump Proposes "Two-Week Cease-Fire"... Iran Calls for "10-Day Talks"

[Financial News] U.S. President Donald Trump has withdrawn his threat to "destroy the civilization" of the Islamic Republic of Iran (Iran) and agreed to a surprise two-week cease-fire. International oil prices immediately plunged 12%, reflecting relief in the markets, but Iran’s demand for "controlled passage through the Strait of Hormuz" is emerging as a new flashpoint.

Cable News Network (CNN), The New York Times (NYT) and other major foreign media reported on the 7th (local time) that, shortly before the deadline Trump had set for strikes on Iran, the United States of America (U.S.) and Iran agreed to a "two-week cease-fire." The White House officially confirmed that the State of Israel also agreed to this temporary truce.
At 6:32 p.m. Eastern time that day, just 1 hour and 28 minutes before the strike deadline, Trump posted on the social media platform Truth Social, saying, "On the condition that Iran agrees to the full, immediate and safe opening of the Strait of Hormuz, I agree to suspend bombing and attacks on Iran for two weeks."
With the brinkmanship over the announced airstrikes temporarily halted, global energy markets reacted at once. International oil prices fell 12% from the previous session, marking the steepest drop since the war began.

Iran also confirmed on the 7th (local time) that the two countries had agreed to a two-week cease-fire, as Trump announced. In a statement, the Supreme National Security Council of Iran (SNSC) declared, "Iran has won the war against the U.S. and the State of Israel, and the United States has accepted all 10 points of the cease-fire plan proposed by Iran."
Islamic Republic of Iran Broadcasting reported that Trump had accepted Iran’s terms for ending the war, conveying a sense that Iran has gained the upper hand.
The 10-point proposal put forward by Iran is said to include a plan for so-called "controlled passage through the Strait of Hormuz," coordinated with Iranian forces. Under this plan, the strait would remain fully open, but Iranian forces would inspect passing vessels or impose specific conditions. This is expected to trigger intense disputes over "freedom of navigation" in the upcoming negotiations.
The proposal also calls for the withdrawal of U.S. combat troops from all bases in the region, the easing of sanctions on Iran, and compensation for war damage.
Seyed Abbas Araghchi, Iran’s foreign minister, said in a statement, "If attacks on Iran stop, Iran will also halt its attacks, and in coordination with the Iranian military, safe passage through the Strait of Hormuz will be possible for two weeks."
The two sides are scheduled to begin full-fledged negotiations on the detailed conditions on the 10th in Islamabad, Pakistan.


km@fnnews.com Kim Kyung-min Reporter