Announcement of the Ceasefire
On the evening of April 7, 2026, US President Donald Trump announced a two-week conditional ceasefire with Iran, just hours before an 8 p.m. ET deadline he had set for Iran to reopen the Strait of Hormuz or face escalated US strikes (including on infrastructure like power plants and bridges).
Trump described it as a “double-sided ceasefire,” stating the US would suspend bombing and attacks for two weeks, subject to Iran agreeing to the complete, immediate, and safe opening of the Strait of Hormuz for commercial shipping. He noted that the US had already met its military objectives and that Iran had submitted a “workable” 10-point proposal as a basis for longer-term peace negotiations. Almost all past points of contention were reportedly close to agreement, with the two-week window intended to finalize a broader deal.
Pakistan played a key mediating role. Pakistani Prime Minister Shehbaz Sharif issued a statement nearly identical to the one you referenced, announcing an “immediate ceasefire everywhere including Lebanon and elsewhere, EFFECTIVE IMMEDIATELY.” He thanked both sides, welcomed the “sagacious gesture,” and invited delegations from the US, Iran, and allies to Islamabad on Friday, April 10, 2026, for the “Islamabad Talks” to negotiate a conclusive agreement and sustainable peace.
Iran’s Supreme National Security Council and Foreign Minister Abbas Araghchi confirmed acceptance of the two-week ceasefire. Iran stated it would coordinate safe passage through the Strait of Hormuz with its armed forces during this period (if US attacks halt), while emphasizing continued Iranian control or management of the waterway. Iran framed the move positively and agreed to participate in talks in Islamabad.
Israel has also reportedly agreed to the two-week pause, which extends to halting exchanges with Hezbollah in Lebanon. However, some concerns have been noted in Israel about whether the deal goes far enough on issues like Iran’s nuclear program.
Context of the Conflict
This ceasefire follows a period of intense conflict (sometimes referred to in coverage as part of the 2026 Iran war or related to the earlier Twelve-Day War dynamics), involving US and Israeli actions against Iran, Iranian responses including closure or restrictions on the Strait of Hormuz (a critical chokepoint for ~20% of global oil), and regional escalations. The immediate trigger for the latest deadline was Iran’s restrictions on shipping in the strait, which spiked global oil prices.
Market and Immediate Reactions
- Global oil prices dropped sharply (as much as 16% in some reports) on the news of de-escalation and expected reopening of the strait.
- Stock markets reacted positively in many places.
- The US military has paused offensive strikes but maintains defensive posture. Some early reports mentioned continued missile alerts in parts of the region shortly after the announcement.
Outlook
The ceasefire is temporary (two weeks) and conditional, aimed at buying time for negotiations in Islamabad starting April 10. Both sides have expressed optimism about progressing toward a longer-term peace agreement, but differences remain (e.g., exact terms for the strait, sanctions, nuclear issues, and regional security). Pakistan’s mediation, supported by other regional players, has been credited with facilitating this breakthrough.
The situation remains fluid—diplomatic efforts are active, but full implementation and any violations will be closely watched.
