Trump reveals what happens next after agreeing to conditional two-week ceasefire

Donald Trump has detailed what will happen next after the US and Israel agreed on a conditional two-week ceasefire late on Tuesday evening.

It came with just an hour to spare on the president's deadline, in which he threatened 'a whole civilisation will die tonight' if Iran did not agree to reopen the Strait of Hormuz.

At the eleventh hour, the US and Iran agreed on an immediate two-week ceasefire that would see the Strait reopened, with the crucial passage coordinated by the Iranian military. Since the announcement, oil prices have fallen sharply and are now trading well below $100 a barrel.

Trump took to Truth Social to announce the ceasefire and also detailed what would happen next.

The Strait of Hormuz will be reopened as part of the agreement (UNILAD)

He wrote: "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 president went on to say the US has 'met and exceeded all military objectives' in the Middle East, before adding: "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 follow-up Truth Social post, Trump detailed the next steps after the ceasefire was agreed.

The president has detailed the next steps after a ceasefire was agreed (Alex Brandon-Pool/Getty Images)

"A big day for World Peace! Iran wants it to happen, they’ve had enough!" he began. "Likewise, so has everyone else! The United States of America will be helping with the traffic buildup in the Strait of Hormuz. There will be lots of positive action! Big money will be made. Iran can start the reconstruction process.

"We’ll be loading up with supplies of all kinds, and just 'hangin’ around' in order to make sure that everything goes well. I feel confident that it will. Just like we are experiencing in the U.S., this could be the Golden Age of the Middle East!!!"

EXPLAINER: What is Iran's 10-point ceasefire plan?

With barely an hour to go on Trump's deadline to 'unleash hell' on Iran, Tehran agreed to temporarily reopen the Strait of Hormuz, with Israel also agreeing to the ceasefire.

Trump said Iran's 10-point ceasefire proposal provided a 'workable basis on which to negotiate', but concerns continue to grow around whether it will actually stick and if the US will even accept it.

While no official, full version of the peace proposal is available, Iran's Supreme National Security Council released a summary of its demands. These include:

• The reopening of the Strait of Hormuz, but 'under the coordination of the armed forces of Iran'
• An end to the war against Iran and its allies
• US forces to withdraw from 'all bases and points of deployment within the region'
• Compensation to be paid in full to Iran
• The lifting of all sanctions on Iran
• Release of all frozen Iranian assets and properties overseas

The Guardian reports that in a version of the proposal released in Farsi, Iran also included 'acceptance of enrichment' for its nuclear program, but this was missing in the English translation of the proposal plan shared with journalists.