US and Iran Agree to Two-Week Ceasefire After Pakistan Mediation

A historic agreement has been reached between the United States and Iran, brokered by Pakistan's Prime Minister Shehbaz Sharif and Field Marshal Asim Munir.

The ceasefire, which will last for two weeks, requires Iran to reopen the Strait of Hormuz, a crucial waterway that connects the Persian Gulf to the Arabian Sea. The strait carries approximately 20.3 million barrels of oil per day and significant volumes of liquefied natural gas.

Pakistan's role in mediating the deal reflects the diplomatic rapport developed between Sharif and Trump following a September 2025 White House visit. Iran had closed the Strait of Hormuz in recent weeks in response to US and Israeli strikes on Iranian targets, rattling global energy markets and raising concerns about supply disruptions.

The agreement is seen as a significant shift in US-Iran relations after years of escalating conflict and sanctions. Trump described the moment as historic, stating that it was an honor to have this long-term problem close to resolution. The White House has not issued a separate formal statement beyond Trump's Truth Social post.

Following the announcement, bitcoin jumped nearly 3% higher, rising to an intraday high of $71,720 per coin on Bitstamp. If Tehran accepts the terms and negotiations hold through the two-week period, it would mark a significant development in US-Iran relations.