{"text":[[{"start":17.35,"text":"The US and Iran have agreed to a two-week ceasefire that would open the Strait of Hormuz, in the first diplomatic breakthrough to end a conflict that has triggered a global energy crisis. "}],[{"start":30.05,"text":"The ceasefire was announced late on Tuesday shortly before the latest deadline Donald Trump had set Tehran to reopen the strait, a vital waterway for oil and gas supplies, or face strikes that the US president had warned would destroy “a whole civilization”. "}],[{"start":49.49,"text":"In a Truth Social post announcing the agreement, Trump said that a 10-point plan from Iran was a “workable basis” for negotiations. Iran’s foreign minister Abbas Araghchi confirmed that Tehran would allow two weeks of “safe passage” through the waterway while negotiations on a permanent deal began. "}],[{"start":69.92,"text":"The agreement sparked a relief rally in global markets on Wednesday, with European stocks up almost 4 per cent. Oil prices fell sharply, with Brent crude down 14 per cent at under $95 a barrel. "}],[{"start":84.81,"text":"Israel said that it supported the ceasefire but that it did not include Lebanon, which came under renewed fire on Wednesday. "}],[{"start":93.56,"text":"The truce averts Trump’s threats of massive strikes against the Islamic republic’s critical infrastructure, including power plants and bridges, but analysts cautioned that a permanent end to war would depend on how negotiations unfold. "}],[{"start":111.06,"text":"Iran’s Supreme National Security Council said that talks with the US would begin on Friday in Islamabad to discuss the 10-point plan, which includes Tehran maintaining its control over ship traffic in the strait and the lifting of economic sanctions. "}],[{"start":126.84,"text":"“Markets will be able to breathe for at least a few days,” said Michael Alfaro, chief investment officer at Gallo Partners, a US hedge fund. "}],[{"start":136.77,"text":"But investors warned that a lasting decline in oil prices would depend on whether Iran would be willing to release its grip on the strait beyond the two-week window. "}],[{"start":148.81,"text":"In a sign of the potential challenges that the US and Iran will face in reaching a permanent deal, US vice-president JD Vance described the ceasefire as a “fragile truce”. "}],[{"start":161.9,"text":"Speaking on a trip to Hungary on Wednesday, Vance said there were some within Iran who wanted to work to find a deal, while others were “lying” about the nature of the agreement on social media. "}],[{"start":175.25,"text":"Tehran has used its chokehold on the strait, through which a fifth of the world’s oil transits, as a powerful leverage in the five-week conflict. "}],[{"start":185.54,"text":"In a Truth Social post on Wednesday, Trump said that the US would be “helping with the traffic build up” in the strait, adding that “Big money” would be made."}],[{"start":196.43,"text":"Trump had warned on Tuesday that the US would wipe out Iran’s entire civilisation. But even as he ramped up his rhetoric, the administration had pushed for a short-term ceasefire, mediated by Pakistan, people familiar with the effort told the FT. "}],[{"start":212.86,"text":"The White House declined to comment on the negotiations."}],[{"start":217.20000000000002,"text":"Trump, in his social media post, said he agreed to the ceasefire because the US had “already met and exceeded” all its military objectives and was “very far along with a definitive agreement” for a permanent end to the war."}],[{"start":232.53000000000003,"text":"Trump claimed that “almost all of the various points of past contention have been agreed to between the United States and Iran”. "}],[{"start":241.02000000000004,"text":"Iran’s leaders said in a statement that the Americans had accepted the “principles” of their 10-point plan “as the basis of negotiations”."}],[{"start":251.36000000000004,"text":"But hawks in Washington are expected to push back on some of Iran’s demands. "}],[{"start":257.84000000000003,"text":"As well as Iran’s continued control over the strait, Tehran has called for the full cessation of hostilities by the US and Israel against Iran and its “Axis of Resistance”, which includes proxy groups such as Lebanon’s Hizbollah."}],[{"start":274.58000000000004,"text":"It also calls for “the withdrawal of United States combat forces from all bases and points of deployment within the region”, the Supreme National Security Council said in its statement."}],[{"start":286.31000000000006,"text":"Iran said it would participate in the talks for a maximum of 15 days. Araghchi, who led two previous rounds of indirect talks with the US before the start of the war on February 28, is expected to serve as Iran’s top negotiator in Islamabad."}],[{"start":305.4100000000001,"text":"Additional reporting by Steff Chávez in Washington, Martha Muir in New York and Neri Zilber in Tel Aviv"}],[{"start":323.59000000000003,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1775717717_3657.mp3"}