US and Iran Agree Ceasefire Amid Dispute Over Strait of Hormuz Control and Sanctions

The United States and Iran agreed to a two-week ceasefire after 38 days of hostilities.

The ceasefire was conditioned on Iran reopening the Strait of Hormuz.

Ahl Misr

Iran presented a 10-point plan that included continued Iranian control over the Strait, an end to sanctions, and acceptance of uranium enrichment.

Trump announced that talks would be held in Pakistan and that many of the 15 points have already been agreed to.

The Guardian reported the ceasefire came less than two hours before the deadline Trump set.

Trump announced the US would work closely with Iran and simultaneously impose a 50% tariff on countries supplying weapons to Iran.

He declared there will be no uranium enrichment and the US would work with Iran to remove nuclear dust.

Akhbar Al-Ghad

Iranian officials published their 10-point plan including acceptance of enrichment.

The Washington Post reported Trump had secretly offered to lift all sanctions if Iran suspended enrichment.

Trump praised the highly fruitful change for the regime despite the Supreme Leader having been succeeded only days earlier.

The ceasefire led to a 14% drop in oil prices and a rise in gold and silver.

The Strait of Hormuz had been closed for 38 days, disrupting global trade.

Iran's economy was in recession.

The Ministry of Labour announced compensation for each family of the deceased in the garment factory fire.

Rahman Textile owner Faisal Rahman was detained as the death toll rose to 33.