A two-week ceasefire between the United States and Iran includes a provision allowing Iran and Oman to charge fees on ships transiting the Strait of Hormuz, a waterway previously considered international and toll-free. Senator Chris Murphy, D-Conn., stated that this effectively gives Tehran “control” of the strait, calling it “a history-changing win for Iran.” Murphy condemned the move as a demonstration of “incompetence” that is “stunning and heartbreaking.”
President Donald Trump announced the 14-day ceasefire on April 8, 2026, via social media, describing a shift from threatening Iran with “annihilation” to accepting a “workable” plan from the Islamic Republic’s leadership. Trump indicated the temporary ceasefire was agreed approximately 90 minutes before his deadline for Tehran to open the Strait of Hormuz or face the destruction of its power plants and other critical infrastructure. He asserted that the United States had “already met and exceeded all Military objectives” and was “very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East.” The Associated Press reported that the ceasefire was expected to pave the way to end the nearly six-week-old conflict.
White House press secretary Karoline Leavitt characterized the two-week ceasefire as a “victory for the United States that President Trump and our incredible military made happen.” Leavitt stated that “Operation Epic Fury” was estimated to be a 4-6 week operation, but core military objectives were achieved and exceeded in 38 days. She announced that Defense Secretary Pete Hegseth and General Dan Caine, chairman of the Joint Chiefs of Staff, would hold a press conference. Leavitt added that the military’s success created “maximum leverage,” enabling negotiations for a diplomatic solution and long-term peace, and praised President Trump’s ability to “successfully advance America’s interests and broker peace.”
Global financial markets reacted immediately to the ceasefire announcement. Reuters reported that U.S. stock index futures jumped, and crude oil prices fell on expectations that Middle East energy supplies could resume. The Jerusalem Post noted that global markets rallied, and oil dropped below $100, with main oil barrel indexes showing a 15% average fall, particularly in Asian markets during early trading hours.
Despite the announced pause in hostilities, Tehran launched a missile barrage toward Israel after the ceasefire announcement, according to The Jerusalem Post. Gulf states were described as being on high alert. The IDF reported overnight strikes in Iran that targeted launch sites and disrupted a planned missile barrage.
Sovereignty Transfer and Elite Mediation
Pakistan, identified as a key mediator between American and Iranian representatives, was the first country to publicly welcome the agreement. Pakistan’s Prime Minister Shehbaz Sharif announced the agreement, stating it included an immediate ceasefire “everywhere, including Lebanon and elsewhere.” However, Prime Minister Benjamin Netanyahu later denied Sharif’s claim, clarifying that “The two-week ceasefire does not include Lebanon.”
Other international actors also welcomed the ceasefire. Egypt expressed its welcome for the ceasefire and the suspension of military activity in the region. Australian Prime Minister Anthony Albanese thanked Pakistan, Egypt, Turkey, and Saudi Arabia for their mediation efforts. German Chancellor Frederich Merz also thanked Pakistan for mediation, stating the aim was now to negotiate a lasting end to the conflict. Malaysian Prime Minister Anwar Ibrahim called for the “ten-point plan” to be translated into a comprehensive peace deal for Iran, Iraq, Lebanon, and Yemen, and insisted the ceasefire include Palestine, demanding “unimpeded humanitarian access to all civilian populations.” Ukrainian Foreign Minister Andrii Sybiha linked the outcome to American decisiveness, suggesting it could be applied to force Moscow to end its conflict with Ukraine.
The European Union High Representative for Foreign Affairs, Kaja Kallas, described the agreement as a “step back from the brink after weeks of escalation,” creating a “much-needed chance to tone down threats, stop missiles, restart shipping, and create space for diplomacy towards a lasting agreement.” Kallas emphasized that “The Strait of Hormuz must be open for passage again,” thanked Pakistan for its mediation, and stated the EU’s readiness to support efforts while remaining in touch with regional partners.
The Associated Press reported that China, identified as Iran’s biggest trading partner and the United States’ most significant economic competitor, quietly assisted in finding a pathway toward a ceasefire. This information came from two unnamed officials briefed on the matter.
The Cost to National Interests
The ceasefire plan, according to a regional official, allows Iran to use the money raised from the new tolls on ships transiting Hormuz for reconstruction. The official did not immediately clarify what Oman would use its money for. The Strait of Hormuz, in the territorial waters of both Oman and Iran, had historically been considered an international waterway that never previously charged tolls.
Democratic lawmakers decried President Trump’s earlier threat to “wipe away an entire civilization” as “a moral failure.” Pope Leo XIV warned that strikes against civilian infrastructure would violate international law, calling Trump’s comments “truly unacceptable.” The Associated Press noted Trump’s pattern of backing down from maximalist demands, citing previous two-week deadlines in decisions regarding Iran, Russia’s conflict with Ukraine, health care, and tariffs, as well as abandoning a threat to take control of Greenland.
President Trump was scheduled to meet with NATO Secretary-General Mark Rutte at the White House, with the emerging ceasefire and plan to reopen the Strait of Hormuz expected to be central to their discussions.