Where the ceasefire stands

No new attacks were reported in the Persian Gulf on Wednesday, and Iran’s deputy foreign minister said the Strait of Hormuz is open to any vessel that communicates with Iranian authorities. The waterway, through which one-fifth of global oil shipments pass, could fully reopen by Thursday or Friday.

Why it matters: The ceasefire stopped the shooting, but the two sides appear to have agreed to different deals. The gap between what Washington says was agreed and what Tehran acknowledges could collapse the truce before the two-week window closes.

The uranium dispute

President Trump said on Truth Social on Wednesday that Iran will not enrich uranium under the new deal. The White House confirmed that the end of enrichment inside Iran remains Trump’s “red line.”

Iran has not confirmed any such agreement. Tehran’s publicly stated 10-point plan demands the right to continue enriching uranium, full control of the Strait of Hormuz, an end to all sanctions, and repayment for war damage. In exchange, Iran offered a commitment not to develop a nuclear weapon.

Neither Iran’s official ceasefire statement nor Pakistan’s mediator statement mentioned uranium. According to PBS, several key terms remain undefined, with formal negotiations expected to continue in Islamabad.

The Lebanon complication

Israel launched its largest strike yet on Hezbollah targets in Lebanon on Wednesday, killing at least 254 people. Iran called the strikes a “grave violation” of the ceasefire. The United States and Israel said Lebanon was not covered by the deal, but Pakistan, which brokered the ceasefire, said it was.

British Foreign Secretary Yvette Cooper called Israel’s strikes “deeply damaging” and urged that Lebanon be included in the agreement.

What happens next

Peace talks are expected to continue in Islamabad this week. The ceasefire expires in two weeks. The core question is whether Washington and Tehran can bridge the gap between Trump’s demand for zero enrichment and Iran’s insistence on maintaining its nuclear programme. If they cannot, the conflict could resume with even less international support for a second round of military action.