Donald Trump has claimed a ceasefire with Iran could mark a “golden age” for the Middle East. The US and Iran agreed to a two-week ceasefire, which includes the reopening of the Strait of Hormuz, less than two hours before Mr Trump’s deadline for Iran to make a deal or else "a whole civilisation will die".

Writing on Truth Social, the American President hailed the agreement as a “big day for World Peace”, claiming Iran “had enough”. He confirmed the US will help with the building of shipping traffic in the Strait of Hormuz, a key global trade route for oil and gas, and that “Big money will be made”. “Iran can start the reconstruction process. We’ll be loading up with supplies of all kinds, and just “hangin’ around” in order to make sure that everything goes well,” Mr Trump said in the social media post.

“I feel confident that it will. Just like we are experiencing in the U.S., this could be the Golden Age of the Middle East!!!”

Iran’s de facto closure of the Strait of Hormuz, through which 20% of the world’s all oil and natural gas passes through, has sent economic shockwaves across the world.

Tehran’s chokehold of the narrow waterway saw several countries introduce fuel rationing, with fears commercial aviation could also be disrupted by the chaos.

The Iranian Supreme National Security Council confirmed it has accepted the ceasefire, with negotiations with the US to begin in Pakistan on Friday.

Neither side said when the ceasefire would begin, but since its announcement, strikes have been reported in Israel, Iran and nations across the Gulf.

An Israeli official was cited in US media outlets as saying Israel is still attacking Iran as of Wednesday morning.

Prime Minister Benjamin Netanyahu said Israel backed the US ceasefire with Iran, but that the deal doesn’t cover fighting against Hezbollah in Lebanon.

The ceasefire calls for Israel and Hezbollah to halt fighting in Lebanon, according to Pakistan which has been mediating talks.

However, there has been confusion over the ceasefire process after Iran released different versions of the 10-point plan intended to be the basis for negotiations.

The version in Farsi referenced “acceptance of enrichment” for its nuclear programme, but this phrase was missing in English versions shared with the media by Iranian diplomats.

Mr Trump initially said Iran proposed a “workable” 10-point plan that could help end the war, before later calling it fraudulent without elaborating.

Following the ceasefire’s announcement, pro-goverment demonstrators in Tehran chanted: “Death to America, death to Israel, death to compromisers!”

Both sides have sought to use the ceasefire to claim victory in the war launched by the US and Israel in February.

Mr Trump told the AFP news agency the deal was a “total and complete victory” for the US, while Iran’s Supreme National Security Council claimed it had “achieved a great victory”.

“The enemy has suffered an undeniable, historic and crushing defeat in its cowardly, illegal and criminal war against the Iranian nation,” it said in a statement.