Key takeaways

• U.S. President Donald Trump says he has agreed “to suspend the bombing and attack of Iran for a period of two weeks.”
• Tehran said it would target Gulf neighbours’ infrastructure in retaliation after Trump gave Iran until 8 p.m. ET to end its blockade of Gulf oil.
• Strikes on Iran intensified, hitting bridges, an airport, a petrochemical plant and knocking out power lines while attacking Kharg Island.
• Prime minister of Pakistan, which is mediating between the two sides, says diplomatic efforts have “potential to lead to substantive results in near future.”

U.S. President Donald Trump said on Tuesday that he had agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face widespread attacks on its civilian infrastructure.

The announcement on social media was the latest example of Trump backing down from severe threats, after he warned Iran earlier on Tuesday that “a whole civilization will die tonight” if his demands were not met.