The Latest: Trump pulls back on threats as US, Israel and Iran reach a 2-week ceasefire deal
Iran, the United States and Israel said they reached a deal for a two-week ceasefire war, with Tehran saying it would negotiate with the United States in Islamabad beginning Friday.
Trump initially said Iran proposed a “workable” 10-point plan, but he later called the plan fraudulent without elaborating.
Trump’s threats to launch devastating strikes on Iran hit a new extreme hours before the ceasefire when he warned, “A whole civilization will die tonight, never to be brought back again," if Iran failed to make a deal that included reopening the vital Strait of Hormuz.
In a statement Wednesday morning, Israeli Prime Minister Benjamin Netanyahu’s office said it supports Trump’s decision to suspend strikes against Iran for two weeks, but that it doesn’t include the war with Hezbollah in Lebanon, where more than 1,500 people have been killed.
Here is the latest:
Benchmark U.S. crude oil sank 13.3% to $96, while brent crude, the international standard, dropped below $95 on Wednesday.
The oil prices fell while Asian benchmarks rose in Wednesday trading after the U.S. and Iran agreed to a two-week ceasefire that includes reopening the Strait of Hormuz.
Shares jumped in early trading in Japan, Australia, South Korea and China in reaction to the ceasefire.
A recent spike in prices was a response to the war effectively blocking passage of much of the world’s oil supply through the strait.
Lebanon’s Crisis Management Unit has urged displaced people not to travel south following the U.S.-Iran ceasefire agreement.
The unit’s statement came as many displaced people packed their belongings and started moving south, thinking the agreement also included Lebanon, where Israel and the Hezbollah militant group are at war.
Pakistan, which mediated the agreement, said the two-week cessation of hostilities agreement included Lebanon, but Israeli Prime Minister Benjamin Netanyahu said it did not.
Hezbollah did not immediately comment.
More than 1 million people in Lebanon have been displaced in just over a month.
Malaysia’s Prime Minister Anwar Ibrahim said Wednesday that the two-week ceasefire in the war in Iran “augurs well for the restoration of peace and stability, not only to the region but also the rest of the world.”
Indonesia also welcomed the latest development as an effort to keep the door open for diplomacy in order to promote de-escalation.
Yvonne Mewengkang, spokesperson for Indonesia’s Foreign Affairs, said: “The Indonesian government will always support any constructive diplomatic efforts, including those that have the potential to lead to a more permanent resolution, with the protection of civilians as our primary focus.”
South Korea’s Foreign Ministry in a statement praised mediation efforts by countries including Pakistan and called for a swift restoration of peace and stability in the Middle East. It said it expects the “prompt and safe” resumption of free passage through the Strait of Hormuz for all vessels, including South Korean ships.
Trump in a social media post declared the ceasefire agreement a “big day for World Peace” and that the U.S. “will be helping with the traffic buildup in the Strait of Hormuz.”
“There will be lots of positive action!” Trump predicted in his post.
“Big money will be made. Iran can start the reconstruction process. We’ll be loading up with supplies of all kinds, and just ‘hangin’ around’ in order to make sure that everything goes well. I feel confident that it will.”
Trump’s message on his Truth Social website signals Washington’s concern about Iran maintaining its chokehold over the narrow mouth of the Persian Gulf, through which 20% of all oil and natural gas passes in peace time.
Bahrain sounded its missile alert sirens Wednesday morning, hours after the U.S. and Iran say they reached a two-week ceasefire in the war for negotiations.
Bahrain’s Interior Ministry announced the warning.
It wasn’t immediately clear from the ceasefire when it would begin.
Iran has fired missiles on the Gulf Arab states and Israel after the announcement.
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