U.S. and Iran Formalize 60-Day Peace Plan Amid Khamenei Funeral Crowds

The United States and Iran have maintained a total cessation of hostilities as they transition into a formal 60-day tactical ceasefire. President Trump confirmed that neither side will engage in military action during the funeral proceedings for the late Supreme Leader Ali Khamenei. A new 14-point provisional agreement has been released by U.S. officials, outlining a framework to end military actions and reopen the Strait of Hormuz. Central to the agreement is Iran’s reaffirmation that it will not procure or develop nuclear weapons, a critical milestone in the peace process scheduled for ratification this Friday in Switzerland. While diplomatic efforts progress, a humanitarian crisis has unfolded in Tehran during the state funeral. Hundreds of thousands of mourners have flooded the streets, leading to extreme crowd density that has left over 4,000 people in need of medical attention. Projections suggest between 1,500 and 3,000 individuals may have died due to overcrowding. Despite the ongoing truce, public sentiment remains volatile; at the funeral, a performer called for the death of President Trump, highlighting the deep-seated tensions that persist even as leadership explores a diplomatic exit from the recent conflict. Economically, the focus has shifted to the reopening of the Strait of Hormuz. Under the peace plan, Iran has pledged 60 days of safe, fee-free transit for commercial vessels while de-mining operations take place. However, Tehran announced it will implement "service fees" after this period to cover the costs of maritime security and environmental protection. The transition of power also remains under tight security, as the new Supreme Leader, Mojtaba Khamenei, remained absent from the Tehran funeral due to safety concerns, though he is expected to lead prayers at the burial in Mashhad on July 9.