In a surprising development on April 7, 2026, President Donald Trump announced that he has agreed to a "double sided CEASEFIRE" with Iran, effectively putting a temporary halt to the nearly six-week-long conflict between the two nations. This announcement came less than two hours before a self-imposed deadline that Mr. Trump had set for Iran to either reach an agreement with the United States or face devastating U.S. strikes targeting Iranian power plants.
The president made the ceasefire declaration on his social media platform, Truth Social, stating, "I agree to suspend the bombing and attack of Iran for a period of two weeks." He emphasized that the U.S. had already "met and exceeded all Military objectives." However, he made clear that this pause in hostilities was conditional, requiring Iran to agree to the "COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz," a vital maritime chokepoint through which a significant portion of the world's oil supply passes.
Iranian officials confirmed the ceasefire terms from their side as well. Iranian Foreign Minister Seyed Abbas Araghchi acknowledged that Iran agreed to halt its "defensive operations," which likely refers to its recent drone and missile attacks against U.S. allies in the region. Araghchi also stated that Iran's armed forces would coordinate efforts to ensure "safe passage through the Strait of Hormuz," signaling a willingness to ease tensions surrounding this critical waterway.
Notably, Israel, a key U.S. ally and participant in the conflict, has also agreed to the ceasefire proposal, according to a White House official who spoke with CBS News. The war had escalated dramatically since February 28, when the U.S. and Israel initiated joint strikes on thousands of targets within Iran. In retaliation, Iran launched attacks on Israel and other U.S.-aligned countries in the Gulf region, heightening fears of a wider regional war.
The financial markets reacted swiftly to the news of the ceasefire. Oil futures, which had surged to multi-year highs due to conflict-related supply disruptions-especially because shipments through the Strait of Hormuz had been largely cut off-plummeted. The price of West Texas Intermediate, the U.S. benchmark, dropped more than 13%, falling below $92 a barrel shortly after the announcement. Despite this sharp decline, oil prices remained elevated compared to pre-war levels, reflecting ongoing uncertainties in the region.
This ceasefire follows an intense diplomatic scramble involving the United States, Iran, and intermediary nations such as Pakistan, which played a role in brokering the agreement. Over the weekend prior to the announcement, President Trump had issued a stark ultimatum demanding that Iran reach an "acceptable" deal and reopen the Strait of Hormuz by 8 p.m. ET on Tuesday. Failure to comply, he warned, would result in the destruction of Iranian power plants and bridges, escalating the conflict further.
The president's rhetoric in the days leading up to the ceasefire had grown increasingly severe. Earlier on Tuesday, he posted on Truth Social that "A whole civilization will die tonight, never to be brought back again," underscoring the gravity of the situation and his willingness to use overwhelming force.
While the ceasefire marks a significant step toward de-escalation, it does not represent a formal long-term peace agreement. President Trump noted in his announcement that the U.S. is "very far along" in negotiations toward a "definitive Agreement concerning Longterm PEACE with Iran." He revealed that Iran had sent a 10-point peace plan, which he described as a "workable basis on which to negotiate." This came after Iran had rejected a 15-point proposal previously offered by American negotiators.
The president expressed optimism that "almost all of the various points of past contention have been agreed to between the United States and Iran," but that the two-week ceasefire would provide the necessary window to finalize and consummate the agreement.
Iran's Supreme National Security Council issued a statement outlining plans for further negotiations. Talks are scheduled to begin on Friday in Islamabad, Pakistan, and are expected to last two weeks. The Iranian council expressed "complete distrust toward the American side," reflecting deep-seated skepticism about U.S. intentions. It also warned that if a deal is not reached, Iran would continue fighting alongside its allies "until all the demands of the Iranian people are achieved."
Despite the ceasefire, significant differences remain between the two parties. According to Iran's statement, its 10-point plan includes demands that the U.S. withdraw forces from all bases in the region, provide full compensation to Iran, lift all sanctions, and grant Iranian armed forces control over the Strait of Hormuz. Additionally, Iran calls for an end to hostilities against the so-called "Axis of Resistance," a term Iran uses to describe its network of proxy groups including Hamas, Hezbollah, and the Houthis. These groups are viewed by the U.S. as terrorist organizations, complicating any potential agreement.
It remains uncertain whether President Trump would accept many of these demands, as they would signify a major shift in U.S. policy in the Middle East. For example, Trump appeared to reject the idea of allowing Iran to control the Strait of Hormuz, suggesting instead that the U.S. should collect tolls from ships passing through the strategic waterway.
Another major unresolved issue is the future of Iran's nuclear program. When the military strikes began in late February, Trump identified preventing Iran from acquiring nuclear weapons as a key objective. He has publicly insisted that Iran must abandon all uranium enrichment activities. Iran, on the other hand, maintains that its nuclear program is peaceful. U.S. intelligence agencies assessed last year that Iran was not actively developing a nuclear weapon, but Iran has refused to halt uranium enrichment. Its stockpiles of highly enriched uranium-material close to weapons-grade-remain in the country, much of it concealed under rubble from previous U.S. strikes conducted in June of the prior year.
As of the ceasefire announcement, the status of nuclear negotiations remains unclear. The ceasefire and forthcoming talks may provide an opportunity to address these issues, but the significant mistrust and incompatible demands between the two sides suggest that a comprehensive resolution will be challenging.
Overall, the announcement of a two-week ceasefire signifies a crucial pause in a conflict that has shaken the Middle East and disrupted global oil markets. It reflects concerted diplomatic efforts to prevent further escalation while leaving open the possibility for a longer-term peace agreement. However, deep-seated disagreements on regional military presence, sanctions, proxy groups, and nuclear policy mean that the path ahead remains complicated and uncertain.
Contributors to this report include Sara Cook and Claire Day.