'End war swiftly,' UK urges Trump after he agrees two-week ceasefire with Iran sending cost of oil plunging

Britain is urging Donald Trump to “swiftly” end his war after he agreed a two-week ceasefire with Iran .

Before travelling to the Gulf, Sir Keir Starmer backed the truce deal agreed just 90 minutes before a deadline set by the US president.

He had threatened that Iran’s civilisation would “die” if Tehran did not reopen the Strait of Hormuz.

“I welcome the ceasefire agreement reached overnight, which will bring a moment of relief to the region and the world,” Sir Keir said as the cost of oil dropped significantly and stock markets jumped on the deal.

"Together with our partners we must do all we can to support and sustain this ceasefire, turn it into a lasting agreement and reopen the Strait of Hormuz."
But policing minister Sarah Jones, on the media round for the Government, warned of “challenges” on ensuring a proposed 10-point peace plan would work including on Iran’s nuclear stockpile and the Strait of Hormuz.

She said it was “unacceptable” that Tehran would charge tankers for using the key strait, through which a fifth of the world’s oil and liquefied natural gas flows, stressing the “freedom” of navigation.

Iran has effectively closed the strait to vessels linked to the West by targeting more than 20 tankers since the start of the war.

Foreign Secretary Yvette Cooper spoke to US Secretary of State Marco Rubio on Tuesday night and “encouraged a swift resolution to the conflict”.

Trump agreed to a provisional two-week ceasefire after pulling back at the last-minute from his threat to obliterate the country with a devastating bombing campaign.

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The US president said he was suspending his threat to widen the military offensive to power plants and bridges subject to the reopening of the critical Strait of Hormuz waterway.

He said Tehran proposed a 10-point plan that provided “a workable basis on which to negotiate”.

Global oil prices fell sharply and stock markets jumped following the announcement of the ceasefire, bolstered by hope that trade through the strait could resume.

The price of benchmark Brent crude fell by about 13% to $94.80 (£70.73) a barrel, while US-traded oil was more than 15% lower at $95.75.

The Iranian regime said it had accepted a temporary truce but warned that its “hands remain upon the trigger”, while a White House official said Israel had also accepted the terms of the ceasefire agreement.

Israeli Prime Minister Benjamin Netanyahu said Israel backed Mr Trump’s suspension of strikes against Iran, but said any deal does not cover fighting against Hezbollah in Lebanon.

Pakistan Prime Minister Shehbaz Sharif said he had invited Iranian and US officials to Islamabad for talks on Friday.

The US president had given Tehran until 1am on Wednesday UK time to end its chokehold on the strait or face annihilation.

Writing on his Truth Social platform, Mr Trump said: “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.

“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.”
He added: “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 finalized and consummated.”
In a later post, Mr Trump heralded “A big day for World Peace!” and predicted “the Golden Age of the Middle East” with the US helping build traffic in the Strait of Hormuz.

He wrote: “Iran wants it to happen, they’ve had enough!

Likewise, so has everyone else!

“There will be lots of positive action!

Big money will be made.

Iran can start the reconstruction process.”
Iran’s Supreme National Security Council said it would negotiate with the US in Pakistan’s capital, Islamabad, starting on Friday.

But while accepting a ceasefire, it said in a statement: “It is emphasised that this does not signify the termination of the war.

“Our hands remain upon the trigger, and should the slightest error be committed by the enemy, it shall be met with full force.”
Iran’s foreign minister Abbas Araghchi also said ships would be allowed to pass through the strait over the next two weeks in “coordination” with the country’s military.

He said in a statement: “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.”
Prior to the conflict, there were no restrictions and it was not clear if Iran would continue to seek to charge ships as it had been doing during the war.

On its 10-point plan for the future, Iran also said the strait would be subject to “regulated passage… under the coordination of the armed forces of Iran”.

In doing so, it would be “conferring upon Iran a unique economic and geopolitical standing”.

This would appear to be at direct odds with Trump’s demand for the shipping route to be fully open to vessels and flags potential future difficulties to overcome.

In the face of ongoing military strikes by the US and Israel, Iran has tightened its grip on the critical shipping route, sending global oil and gas prices skyrocketing and causing global economic uncertainty.

Earlier, ahead of the announced ceasefire, Trump said: “A whole civilisation will die tonight, never to be brought back again.

“I don’t want that to happen, but it probably will.”
Among those to criticise his ominous threat was Pope Leo XIV, who branded it “truly unacceptable”.