US and Iran Reach Two-Week Ceasefire Agreement to Reopen Strategic Strait of Hormuz

The United States and Iran agreed to a two-week ceasefire on Tuesday, April 7, effective immediately, with Washington conditioning the suspension of military operations on the full reopening of the Strait of Hormuz. The agreement, brokered by Pakistani Prime Minister Shehbaz Sharif, was announced by Donald Trump on Truth Social, where he stated that US forces would suspend attacks on Iran for two weeks provided Tehran agreed to the "FULL, IMMEDIATE and SECURE OPENING of the Straits of Hormuz." Iranian Foreign Minister Abbas Araghchi confirmed that Tehran would guarantee safe passage through the strait under the supervision of the Iranian armed forces. Trump described Iran's 10-point proposal as a "working basis" for negotiations, while simultaneously acknowledging that the two sides remain "very far from a final Agreement regarding Long-term PEACE with Iran and PEACE in the Middle East." Within hours of the announcement, the Greek-owned bulk carrier NJ Earth and the Liberia-flagged Daytona Beach, owned by Athens-based Volusia Shipping SA, became among the first vessels to cross the strait after the agreement took effect.

The US-Israel military campaign against Iran, known as Operation Epic Fury, began on February 28, 2026, with coordinated strikes that killed Iran's Supreme Leader Ali Khamenei on the first day of the operation. His son Mojtaba Khamenei was subsequently appointed Supreme Leader on March 9, 2026. The conflict triggered the near-total closure of the Strait of Hormuz, through which approximately 20% of global oil and gas production had previously flowed, sending shockwaves through global energy markets and stranding hundreds of vessels in the Persian Gulf.

Significant gaps remain on nuclear enrichment and missiles Despite the ceasefire announcement, Reuters and multiple sources identified significant gaps between Iran's 10-point proposal and the US 15-point plan that Washington had previously transmitted to Tehran via Pakistani intermediaries. Iran's proposal includes a demand to continue uranium enrichment, a condition Trump had previously ruled out entirely. The US plan, according to Israeli sources, called for the removal of Iran's stockpiles of highly enriched uranium, the cessation of all enrichment activity, the limitation of Iran's ballistic missile program, and the cessation of financing for regional allies. Iran's 10-point proposal contains no reference to missile capabilities, a subject both Washington and Jerusalem have insisted must be addressed. A Pakistani official acknowledged that Tehran could expect to secure many of its demands — including reconstruction funding, reparations, and the lifting of sanctions — but could not expect an agreement on uranium enrichment. American and Iranian officials were expected to hold talks on Thursday to begin working toward a longer-term settlement. 10 (points) — Iran's peace proposal transmitted via Pakistan

US vs. Iran negotiating frameworks: Uranium enrichment (before: US 15-point plan: cessation required, after: Iran 10-point plan: enrichment right demanded); Missile program (before: US 15-point plan: ballistic missiles must be limited, after: Iran 10-point plan: no reference to missiles); Strait of Hormuz (before: US position: free passage, no tolls, after: Iran position: passage under Iranian armed forces supervision, potential tolls)

Iran eyes toll revenues, Israel presses on in Lebanon The terms governing the Strait of Hormuz remain a source of deep uncertainty, with Iran reportedly seeking to impose transit fees on passing vessels as part of any longer-term arrangement. According to information cited by To Vima, Iran and Oman could impose a fee of up to 2 (million USD per ship) — reported maximum transit fee Iran seeks to impose per vessel per passing ship, with revenues directed toward reconstruction. A separate Daily Mail report, citing local officials, put the figure at 1 million dollars per ship, though it remained unclear whether the fee would apply permanently or only during the ceasefire period. This would represent a significant departure from the pre-war status of the strait as a free international sea lane, effectively transforming Tehran into a toll-collecting gatekeeper of a critical global energy corridor. Democratic Senator Chris Murphy told CNN that if the deal grants Iran control of the strait, "it is a catastrophic development for the world." Separately, Israeli Prime Minister Benjamin Netanyahu made clear that Israel's military campaign against Hezbollah in Lebanon would continue despite the ceasefire, directly contradicting Pakistani Prime Minister Shehbaz Sharif's announcement that the truce covered "everything, including Lebanon." Scattered attacks in the Gulf region were also reported in the hours immediately following the ceasefire announcement, raising questions about how quickly the agreement reached Iranian field commanders operating under the country's decentralized command structure.

Thousands of seafarers await safe exit from the Gulf The IMO stated on Wednesday that it was working on a mechanism to ensure the safety of passage through the Strait of Hormuz following the ceasefire announcement. The IMO Director-General said in a statement forwarded to Agence France-Presse that the priority was for ships to move out of the Gulf "with a guarantee for the safety of navigation." The BIMCO security official Jakob Larsen cautioned that departing the Persian Gulf without prior coordination with the United States and Iran "would entail increased risks and is not recommended." The IMO had previously estimated that aboard approximately 3,000 ships of various types remained blocked in the Gulf, meaning any evacuation would take considerable time. Oil prices fell and Asian stock markets strengthened on Wednesday morning following the ceasefire announcement, reflecting investor optimism about the partial restoration of energy flows. The Guardian reported that Iran entered the peace talks in a relatively strong negotiating position, having demonstrated its ability to close the strait and disrupt global energy markets, while still retaining its stockpile of enriched uranium — the original core of the dispute with the United States and Israel.

Key events: US-Iran ceasefire, April 2026: — ; — ; — ; — ; —