Less than two hours before the 8 p.m. Eastern deadline he imposed, President Donald Trump announced he is holding off on his threat to destroy Iran’s “whole civilization” for two weeks.

His statement, which came with the caveat that Iran must reopen the Strait of Hormuz, also said Iran presented a “10-point proposal” that is “workable.” The Strait of Hormuz, a waterway between the Persian Gulf and the Gulf of Oman that serves as a channel for transporting oil and gas, is controlled by Iran and is integral to the global economy.

“This will be a double sided CEASEFIRE! The reason for doing so is that we have already met and exceeded all Military objectives, and are very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East,” Trump wrote in a Truth Social post on Tuesday. “Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two week period will allow the Agreement to be finalized and consummated.”

Israeli Prime Minister Benjamin Netanyahu said that Israel also backed the ceasefire, but noted that the deal doesn’t apply to its conflict with Hezbollah in Lebanon, per The Associated Press and Reuters.