What is in the US-Iran peace deal? What we know so far

What has Trump said about the peace plan?

Trump announced the “double-sided ceasefire,” stressing Iran’s agreement to ensure the “complete, immediate and safe opening” of the Strait of Hormuz through which roughly a fifth of the world’s daily oil supply passes. 

Trump has also stressed that Iran would no longer be allowed to enrich uranium and will have to dig up and remove all the “deeply buried Nuclear ‘dust’.”

In return, he said, the US has suspended planned strikes on Iranian infrastructure, including bridges, power plants and other key installations, pending negotiations. Trump said the US would also consider tariff and sanctions relief for Tehran. 

Iran’s 10-point peace proposal is a “workable basis on which to negotiate,” he said, adding that most points of past contention, which had been put forward in Washington’s own 15-point plan, have already been agreed upon. 

He also stated that the current Iranian plan is “not good enough” and warned that the US would resume its strikes if no final deal is reached by the new deadline.

What has Iran said about the ceasefire deal?

Iran’s Supreme National Security Council confirmed its acceptance of the ceasefire and said that negotiations with the US would begin in Islamabad on April 10, with a two-week period that may be extended by mutual agreement. 

The council stressed that the talks “do not mean the end of the war” and that Iran would continue military operations if its demands are not fully met.

Tehran framed the ceasefire as a “historic and crushing defeat” for the US, claiming Washington was forced to accept its 10-point plan as the basis for talks.

How has Israel responded to the truce?

Israel did not appear to be a part of the ceasefire discussions between the US and Iran, but has backed the deal. 

However, despite the temporary truce being ordered on all fronts, Israel has claimed the terms do not apply to Lebanon, where it has been conducting large scale airstrikes and has launched a ground invasion.

Israeli Prime Minister Benjamin Netanyahu has stated that the IDF would continue its operations against Hezbollah militants in the country.

The death toll from Israeli strikes on Lebanon has exceeded 1,500 people since the start of the war, the country’s ministry of health has reported. Another 4,812 people have been injured, including hundreds of women and children, as well as dozens of paramedics and healthcare workers.

Is fighting still going on in the Middle East?

Despite the ceasefire, attacks have continued across the region. Israel has said it launched its largest wave of strikes on Lebanon since the war began, claiming to have fired 100 missiles in the span of just 10 minutes, supposedly targeting Hezbollah targets in Beirut and other areas across the country.

At least one oil refinery in Iran has also been hit, with several explosions reported at the Lavan refinery in southern Iran shortly after the ceasefire was announced. The cause of the blast is still unknown.

Iran also appears to have launched a wave of attacks on Gulf states. Kuwait reported it intercepted 28 drones, some of which had successfully struck oil facilities, power stations, and water desalination plants, causing significant damage.

The UAE also said it had activated its air defense systems, which have been “actively engaging” missiles and drones. Saudi Arabia’s Defense Ministry says it has intercepted nine hostile UAVs over the past several hours.

How have markets reacted?

Financial markets have responded sharply to the ceasefire news. West Texas Intermediate (WTI) futures fell nearly 18%, last trading near $96 per barrel. Brent crude dropped more than 16% to around $94 per barrel. Asian stock markets surged, with Japan’s Nikkei 225 gaining 5%, South Korea’s Kospi soaring nearly 7% and Hong Kong’s Hang Seng rising by 3%. US stock futures also rallied sharply, while Treasury yields eased.

What has Moscow said?

Russia has welcomed the ceasefire. Kremlin spokesman Dmitry Peskov told reporters that Moscow “was pleased with this news” and supports the decision not to continue down the path of armed escalation. He expressed hope that direct contacts between Iranian and American delegations would take place “in the coming days.”

Russian Foreign Ministry spokeswoman Maria Zakharova added that the approach of an “aggressive, unprovoked attack on Iran has failed” and that the US had suffered a “crushing defeat.”

Former Russian President Dmitry Medvedev also noted that the Strait of Hormuz has effectively become Iran’s “nuclear weapon,” stating that the disruptions caused by the closing of the waterway have proven to be comparable to a nuclear strike in terms of their effect.

What happens next?

Negotiations between the US and Iran are scheduled to begin in Islamabad on April 10, with the ceasefire providing a two-week window for diplomacy. However, both sides have presented starkly different versions of what has been agreed upon, and the Iranian council has warned that any final agreement depends on securing Tehran’s conditions and that “this does not mean the end of the war.”

Despite the markets appearing to react positively to the ceasefire announcement, experts warn that the aftermath of the disruptions may be felt for months to come as energy prices are expected to remain high.