Us and iran agree to two-week ceasefire after trump's deadline

In a dramatic turn, the US and Iran have reached a conditional agreement for a two-week ceasefire, just hours before President Trump's deadline to annihilate the country. The fragile truce comes with conditions, including a halt to attacks on Iran and Iran's control over transit through the Strait of Hormuz.

Details of the ceasefire proposal emerge

The ceasefire proposal, put forth by Iran, also includes demands for the US to withdraw its forces from regional bases and lift all primary and secondary sanctions against the country. Iran is seeking full compensation for damages and the release of frozen assets.

While the ceasefire has been welcomed by several nations, including Australia, South Korea, Japan, and New Zealand, not everyone is convinced. Israel disputes the ceasefire's inclusion of a halt to fighting in Lebanon, where it is engaged in a long-standing conflict with Hezbollah.

In related news, the International Air Transport Association (IATA) warns that it will take months for jet fuel supplies to recover even after the Strait of Hormuz reopens due to disruptions to refineries in the Middle East.