U.S. Defense Secretary Pete Hegseth announced a decisive victory, saying Iran's missile program is destroyed and its military ineffective.
President Donald Trump pledged U.S. will work with Iran, announced a temporary two‑week ceasefire and warned of 50% tariffs on weapons suppliers.
Brent crude futures fell below $100 per barrel after the ceasefire, while equity markets in Asia, Europe and U.S. futures rose.
Iran’s foreign minister Abbas Araghchi said Iran would cease defensive operations and allow safe passage through the Strait of Hormuz under coordination.