TEHRAN, Iran (AP) — U.S. President Donald Trump pulled back on his threats to launch devastating strikes on Iran late Tuesday, swerving to deescalate the war less than two hours before the deadline he set for Tehran to capitulate to a deal.

Trump said he was holding off on his threatened attacks on Iranian bridges and power plants, as the U.S. and Iran agreed to a two-week ceasefire that includes the reopening of the Strait of Hormuz. He said Iran has proposed a “workable” 10-point peace plan that could help end the war launched by the U.S. and Israel in February.

Iran’s Supreme National Security Council said it has accepted the ceasefire and that it would negotiate with the United States in Islamabad beginning Friday. Neither Iran nor the United States said when the ceasefire would begin, and attacks took place in Israel, Iran and across the Gulf region early Wednesday.

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Israel has also agreed to the ceasefire, according to a White House official who was not authorized to comment publicly and spoke on condition of anonymity. The ceasefire calls for Israel and Hezbollah to halt fighting in Lebanon, according to the prime minister of Pakistan, which has been mediating talks.

Iran and Oman to collect shipping fees in Strait of Hormuz

Iranian Foreign Minister Abbas Araghchi said passage through the strait would be allowed under Iranian military management. It wasn’t immediately clear whether that meant Iran would completely loosen its chokehold on the waterway.

The plan allows for both Iran and Oman to charge fees on ships transiting through the strait, according to a regional official who spoke on condition of anonymity to discuss negotiations they were directly involved in. The official said Iran would use the money it raised for reconstruction.

In addition to control of the strait, Iran’s demands for ending the war include withdrawal of U.S. combat forces from the region, the lifting of sanctions and the release of its frozen assets.

Since the war began, Trump has re