Trump announces Iran ceasefire, claims 'agreement' is close

Less than two hours before his oft-invoked deadline for Iran to open the Strait of Hormuz, US President Donald Trump has announced a two-week ceasefire.

Trump said yesterday his 8pm Tuesday ET (10am Wednesday AEST) deadline for the closure to end was his final extension, after having pushed back previous threatened limits.

However, this morning, at about 8.30am AEST, Trump took to Truth Social to announce a change of plans.

LIVE UPDATES: Donald Trump has agreed to delay an attack on Iran after receiving a '10-point plan' from the nation

"Based on conversations with Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, of Pakistan, and wherein they requested that I hold off the destructive force being sent tonight to Iran, and subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz, I agree to suspend the bombing and attack of Iran for a period of two weeks," Trump wrote.

"This will be a double sided CEASEFIRE! The reason for doing so is that we have already met and exceeded all Military objectives, and are very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East.

"We received a 10 point proposal from Iran, and believe it is a workable basis on which to negotiate. Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two week period will allow the Agreement to be finalised and consummated."

He did not elaborate on Iran's proposal or what shape the stated resolutions had taken.

Iranian Foreign Minister Abbas Araghchi confirmed Tehran's acceptance of the ceasefire, posting a statement on behalf of the Supreme National Security Council to X.

"If attacks against Iran are halted, our Powerful Armed Forces will cease their defensive operations," he said.

"For a period of two weeks, safe passage through the Strait of Hormuz will be possible via coordination with Iran's Armed Forces and with due consideration of technical limitations."

Araghchi said the acceptance was based on the request from Sharif, as well as Trump's acceptance of the "general framework" of Iran's 10-point peace proposal.

The deferment of the "attack" is the latest in Trump's series of postponements of deadlines imposed on the Iranian government, and comes after he belligerently threatened to destroy the entire Iranian "civilisation" with the US military.

"The entire country can be taken out in one night, and that night might be tomorrow night," Trump said in a news conference yesterday.

READ MORE: Trump warns a 'whole civilisation will die tonight' if a deal with Iran isn't reached

He said the US had a plan in place to target critical Iranian infrastructure nationwide.

"We have a plan, because of the power of our military, where every bridge in Iran will be decimated by 12 o'clock tomorrow night," he said.

Power plants in the country, he said, would be "burning, exploding and never to be used again".

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He refused to say whether civilian targets were off limits, and dismissed concerns such military action might constitute war crimes or breach international law.

However, Trump also said he didn't want to unleash the threatened bombing campaign.

"We may even get involved with helping them rebuild their nation," he said.

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"And you know what, if that's the case, the last thing we want to do is start with power plants, which are among the most expensive things, and bridges."

Iran, for its part, previously rejected a 45-day ceasefire proposal and continues to hold a tight grip over the crucial Strait of Hormuz.

"We only accept an end of the war with guarantees that we won't be attacked again," Mojtaba Ferdousi Pour, head of Iran's diplomatic mission in Cairo, told The Associated Press.

However, indirect negotiations are continuing between the US and Iran via Pakistani officials, with Trump acknowledging that in his briefing.

Trump has previously delayed or called off threatened ultimatums while citing improvements in discussions with adversaries, raising the possibility it may happen again.

While the war remains increasingly unpopular at home, one expert says Trump may be less concerned about its effect on domestic politics, which are more likely to be influenced by economics.

"His focus today is likely more on his legacy than the results of the next two US elections," senior fellow Lester Munson wrote for the United States Studies Centre.

"The bet here is that he would happily trade some domestic political turmoil for a win in Iran and a vastly more positive position for himself in US and world history."

If so, Trump could well be determined to press ahead with further military action, though the ultimate goal is unclear.

The US president has gone back and forth on whether he seeks - or has achieved - regime change after the killing of Ayatollah Ali Khamenei, whether the US has an interest in re-opening the Strait of Hormuz, or whether he seeks to liberate the Iranian people.

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