US and Iran both declare victory as ceasefire is agreed
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Hi, I'm Kim Vinnell in Whanganui, New Zealand. It's Wednesday, April 8th. Today, a last-minute reversal as President Trump agrees to a two-week ceasefire with Iran. Oil prices tumble on the troops, but don't expect a drop at the pump anytime soon. A Reuters exclusive shows how airport security tip-offs led to ICE arrests.
What led to the US and Iran agreeing to a ceasefire?
and striking images of the moon's far side as Artemis II heads home. This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, seven days a week.
Reuters World News
US President Donald Trump has announced he's agreed to a two-week ceasefire with Iran. That came less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face widespread attacks on civilian infrastructure. It's also a sharp reversal from the extraordinary threat that he made earlier on Tuesday, writing on Truth Social that quote, "...a whole civilization will die tonight, never to be brought back again, if his demands were not met." It's not clear when the ceasefire will take full effect. Missile fire continued across Iran, Israel and the Gulf overnight. And if it does come into force, it may not mean a permanent end to the conflict. Pakistan, which helped broker the deal, says Iranian and American delegations will come to Islamabad for negotiations on Friday.
But that's not a done deal. White House correspondent Steve Holland has more.
The president is labeling this a major achievement and says the two weeks will give the two sides time to negotiate a longer term deal. Now, privately, we are hearing that there are doubts among U.S. officials as to whether the ceasefire will hold. There is a belief that the Iranians are probably trying to buy time, and the U.S. officials believe that the ceasefire is a trust-building exercise to see if the agreement will hold up.
And as for those negotiations meant to take place in Pakistan on Friday, Steve says those might be up in the air too.
For now, the White House is saying that there are discussions about holding talks. The Pakistani side is expecting him in Islamabad on Friday. We'll see if that actually happens. Vice President J.D. Vance, who's been injected into the negotiations in recent days, has been in Hungary this week, and it's possible he could be dispatched to Pakistan to conduct these talks, or the president's two envoys, Steve Witkoff and Jared Kushner, could go. But a lot of this is still up in the air.
Israel has also agreed to the temporary ceasefire with Iran, although the status of fighting in Lebanon remains unclear. Pakistan says the deal included an end to fighting there, while Israel's prime minister, Benjamin Netanyahu, says attacks on Hezbollah in Lebanon will continue. Iran is also positioning the ceasefire as a victory. Iran's Supreme National Security Council says President Trump accepted their conditions. In Tehran, crowds gathered, voicing support for Supreme Leader Ayatollah Mujtaba Khamenei and burning American and Israeli flags. Although some question why the U.S. agreed to a ceasefire. With one woman suggesting it's to give the U.S. time to regroup and buy time for Israel. The main stated aim for the Trump administration is to get oil flowing through the Strait of Hormuz.
But even when it reopens, it may take time before prices at the pump get back to pre-war levels. Reuters Asia Energy editor Tony Munro explains.
Well, first of all, it's not clear yet how quickly the reopening would take place. One of the requirements of this ceasefire, according to the Iranian side, is that for ships to transit, that requires coordination with Iranian forces. So that is a complication. We just don't know how onerous that is. When the Strait reopens and if shipping resumes even towards pre-conflict levels, the oil that's moving is oil that's on the water. That's oil that's already been produced. What still needs to happen would be Plus, the war has proven to the markets just how much control Iran has. there's the longer term concern in energy markets that now that Iran has been able to assert pretty effective control over traffic through the Strait, that this could become a continuous point of leverage that Tehran tries to exert.
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