Iran has said that the country’s military will coordinate safe passage through the Strait of Hormuz during the ceasefire. 

US President Donald Trump had made reopening the strait a key condition of the ceasefire deal.

Iran’s foreign minister Abbas Araghchi 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."

According to Iran's Tasnim news agency, US President Donald Trump has reposted this statement.

Meanwhile, Iran and Oman plan to charge transit fees for vessels passing through the Strait of Hormuz during the two-week ceasefire, according to Tasnim.

The funds will be earmarked for reconstruction, it said.

The strait has been effectively closed since the war began, with maritime tracking data showing that only about 5% of the pre-war volume of shipping is getting through.

US proposal under consideration

Iran’s foreign minister Abbas Araghchi said Iran was considering the 15-point proposal of the United States and said that Washington had accepted “the general framework” of Iran’s own 10-point proposal “as a basis for negotiations.”

Iran’s Supreme National Security Council, the country’s top security body, released statement that confirmed the ceasefire but also portrayed the agreement as a victory.

The security council statement said talks between the US and Iran would take place in Islamabad and laid out key parts of the Tehran’s 10-point plan. It included regulating passage through the Strait of Hormuz; terminating attacks on Iran and its regional proxy forces, the withdrawal of US forces from the region, compensation to Iran, the lifting of international sanctions and unfreezing of assets as well as and a binding UN resolution to secure any ultimate peace deal, said a CNN report.

Iran’s military will coordinate passage of vessels through the critical Strait of Hormuz during the ceasefire, Iran’s foreign minister said.