Donald Trump announced last night that Iran has agreed to a two-week ceasefire and will reopen the Strait of Hormuz, after Tehran submitted a ten-point peace plan to end the war. 

The US President posted on Truth Social: 'I agree to suspend the bombing and attack of Iran for a period of two weeks,' after earlier sparking doomsday fears when he threatened to wipe out its 'entire civilization' if it did not reopen the Strait. 

Trump said that after talks with Pakistani Prime Minister Shehbaz Sharif, he had been assured that Iran would agree 'to the complete, immediate, and safe opening of the Strait of Hormuz.' 

'This will be a double-sided ceasefire,' Trump wrote. '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.'

In a later post, the US President hailed 'a big day for world peace' after agreeing to pause the attacks.

Iran has 'had enough' of the conflict, the US president said on Truth Social, and there will now be 'lots of positive action'. 

Israel also agreed to halt attacks on Iran for two weeks, a senior White House official told Axios, with the ceasefire taking effect once the Strait of Hormuz is reopened. 

Iran accepted the Pakistan-brokered deal after a last-minute Chinese intervention urged Tehran to show flexibility over the war's economic fallout, three Iranian officials told the New York Times. 

However, the ceasefire deal has also received heavy criticism with US representative Maxwell Frost saying of the deal: 'A last-minute ceasefire doesn't erase President Trump's reckless decisions that got us here. 

'We should've never been in this illegal war. Trump is a dangerous warmonger who pushed us into this crisis and threatened to commit war crimes.'

Victor LaGroon, a former US Army intelligence analyst and national security expert, echoed these concerns, telling theGrio that details remain unclear regarding Iran's 10-point plan and 'what the U.S. achieved in this agreement.'

'I, like every American, believe that peace is a good thing, but, given the number of times this administration has moved the goal post of what success looks like, I fear this war will continue to cost us billions of dollars and possibly American lives,' said LaGroon.

US crude oil prices plunged after Trump's announcement, with West Texas Intermediate contracts falling by more than 15 percent to $95 per barrel after hitting $116 earlier Tuesday. 

Iran's 10-point plan, published by state-run Tasnim news agency, demands the US accept Tehran's continued control over the Strait, recognize its right to uranium enrichment, lift all sanctions, pay compensation, and withdraw all troops from the region. 

Trump also posted a statement from Iran's Minister of Foreign Affairs that announced safe passage through the Strait of Hormuz if certain conditions were met.

'If attacks against Iran are halted, our Powerful Armed Forces will cease their defensive operations,' Abbas Araghchi said.

'For a period of two weeks, safe passage through the Strait of Hormuz will be possible via the coordination with Iran's Armed Forces.'

Iranian officials said that the ceasefire was approved by the new supreme leader, Ayatollah Mojtaba Khamenei, despite intelligence reports that say he is in a coma. 

Iran's foreign minister, Abbas Araghchi, confirmed the truce and that 'safe passage through the Strait of Hormuz will be possible' during the two weeks. 

Trump said that the 10-point proposal 'is a workable basis on which to negotiate,' despite saying on Monday that the deal was not 'good enough.' 

Vice President JD Vance, along with Trump's son-in-law Jared Kushner and Special Envoy Steve Witkoff, have been leading US negotiations to end the war, which was launched on February 28 - dubbed Operation Epic Fury.

The deal came after Pakistani PM Sharif posted on X that major breakthroughs had been made between US and Iranian negotiators. 

White House Press Secretary Karoline Leavitt said: 'There are discussions about face-to-face meetings between the United States and Iran, but nothing is final until it is announced by the President or the White House.' 

Trump had warned Tuesday morning that 'a whole civilization will die tonight, never to be brought back again' if no deal was reached by his 8pm ET deadline. 

Following the reaching of the deal, Israel's main opposition leader, Yair Lapid, sharply criticised the move, accusing Prime Minister Benjamin Netanyahu of failing to achieve the war's objectives.

'There has never been a political disaster like this in our entire history. Israel was not even close to the table when decisions were made concerning the core of our national security,' Lapid wrote on X.

'The army carried out everything that was asked of it, and the public showed remarkable resilience, but Netanyahu failed politically, failed strategically, and did not achieve any of the goals he himself set.'

UK Prime Minister Keir Starmer is heading to the Middle East this morning, where he will meet with RAF crews protecting allied airspace, before addressing troops. 

In the first comments on the deal, Sir Keir Starmer said: 'I welcome the ceasefire agreement reached overnight, which will bring a moment of relief to the region and the world.

'Together with our partners, we must do all we can to support and sustain this ceasefire, turn it into a lasting agreement and reopen the Strait of Hormuz.'

He will be holding bilateral meetings with 'Gulf partners' and 'regional leaders' today - although Downing Street is yet to say who exactly he'll be meeting.

Number 10 has said these will focus on 'practical efforts to restore freedom of navigation in the Strait of Hormuz'.

Shortly after the ceasefire deal announcement, early alerts for incoming missile fire went out in Tel Aviv, Fox News reported.

It is the fourth extension Trump has offered the Islamic Republic since he first threatened to 'obliterate' Iran's power plants on March 21. 

Trump has been fixated on forcing Iran to end its chokehold on the Strait of Hormuz, the strategic waterway off the country's coast through which a fifth of the world's oil supply passes. 

Iran has bombed multiple vessels that have made the dangerous decision to transit the Strait. As a result, oil prices have skyrocketed, and global markets have churned.

The average price for a gallon of regular gas has shot up from $2.98 to $4.14, a 39 percent increase.

The US negotiators have demanded that Iran give up its nuclear enrichment capabilities, cut back its drone and ballistic missile programs, cease its support for proxies across the region, and immediately reopen the Strait of Hormuz. 

The President has stressed repeatedly that the objectives of the war are to ensure Iran cannot create a nuclear weapon, its proxies cannot meddle with Middle Eastern countries, and Iran's Navy, drone, and ballistic missile capabilities are destroyed.

Iran proposed a 10-point counter-proposal to US negotiators via Pakistani officials on Monday after the US gave Islamabad a 15-point proposal to begin a ceasefire. 

The President refused to comment on the 10-point plan earlier on Tuesday, telling Fox News: 'I can't comment, because right now we're in heated negotiations.' 

Trump said on Monday at a White House press conference that the plan was a 'significant step,' but he added that it is 'not good enough.' 

Sharif had called on both Trump and the Iranian regime to accept the two-week ceasefire before the President finally relented. 

'To allow diplomacy to run its course, I earnestly request President Trump to extend the deadline for two weeks. Pakistan, in all sincerity, requests the Iranian brothers to open Strait of Hormuz for a corresponding period of two weeks as a goodwill gesture,' Sharif said on Tuesday afternoon. 

'We also urge all warring parties to observe a ceasefire everywhere for two weeks to allow diplomacy to achieve conclusive termination of war, in the interest of long-term peace and stability in the region.'

Even before the deadline expired, airstrikes had already hit two bridges and a train station. American forces also struck military infrastructure on Kharg Island for the second time, a key hub for Iranian oil production.

Israel's military warned of an increased risk of inbound attacks as Trump's deadline approached.

Before the announcement, blasts were heard in the Qatari capital Doha, while the UAE said its air defenses were responding to missile threats.