On 7 April 2026, US President Donald Trump announced a proposed two-week ceasefire between the US and Iran, conditional on the free movement of shipping through the Strait of Hormuz.
- Trump stated that the US has largely achieved its military objectives and called for a “two-sided ceasefire.”
- Iran, through Foreign Minister Abbas Araghchi, agreed to the ceasefire if attacks against Iran are stopped and confirmed safe passage in the Strait during this period.
- Both sides signaled willingness for de-escalation and possible direct talks, with US Vice President JD Vance likely to lead negotiations.
📊 Global Impact
- Oil prices dropped sharply (Brent crude fell below $100, down ~16%).
- Stock markets surged, reflecting reduced geopolitical tensions.
