India and Pakistan have agreed with an immediate ceasefire mediated by the United States, ending four days of reception of hostilities between neighbors with nuclear arms.
“After a long night of talks mediated by the United States, I am happy to announce that India and Pakistan have accepted a full and immediate ceasefire,” said US President Donald Trump on Truth Social Saturday. Governments of the two Asian nations will start negotiations on a wide range of questions on a neutral site, said Marco Rubio, US Secretary of State, on X.
The ceasefire comes after the Indian and Pakistani soldiers targeted the bases of the other, fueling the fears of a total war. Global powers, including China, Saudi Arabia and the group of seven nations, urged countries to engage in a dialogue after dozens of civilians on each side of the border were killed in a series of attacks in Tit-For-Tat.
The chief minister of Jammu and cashmere Omar Abdullah said in an X post that explosions had been heard in the capital of the North State, Srinagar, just hours after the two nations agreed to maintain a cease-fire.
Tensions broke out for the first time on April 22, when armed men killed 26 civilians – mainly tourists – in the Jammu -et -Cachemire region in India. India described the terrorism attack and accused Pakistan of participation, allegations that Islamabad refused.
This week, the situation has increased considerably when India has carried out an operation against what it described as terrorist camps inside Pakistan. The strikes on nine targets, which, according to the Pakistani army, killed 31 civilians, were the deepest violation of the Pakistani territory since the 1971 war. Pakistan then declared that it had killed five Indian planes – an assertion that New Delhi had not yet approached – and the two parties launched drone and missile strikes in the territory.
The Indian Minister of Foreign Affairs, S. Jaishankar, confirmed the ceasefire, saying that “India has always maintained a firm and uncompromising position against terrorism in all its forms and demonstrations. He will continue to do so. ” In a subsequent press briefing, the soldiers of India denied information according to which its S-400 Russian manufacturing defense system was injured by the Chinese manufacturing fighter aircraft in Pakistan and said that Indian forces had destroyed several Pakistani assets.
The Darrier Minister of Pakistan, Ishaq Dar echoes confirmation of the ceasefire, saying that “Pakistan has always targeted peace and security in the region, without compromising its sovereignty and territorial integrity.” Prime Minister Shehbaz Sharif is expected to contact the nation on Saturday.
“The two parties will now claim victory from their own audience,” said Manoj Joshi, a scholarship holder of the observer research. “What is the reality that will be difficult to know.”
India has not publicly recognized American mediation efforts or the role of Trump in the same time, while Pakistan Sharif did.
Read more: What is behind the Sustainable-Pakistan Indian conflict ?: Quicktake
The conflict had disrupted the financial markets. The NSE NIFTY 50 index of India slipped more than 1% on Friday, its greatest drop of more than a month. The key stock index of Pakistan has been down 9% since the Kashmir attack, but increased on Friday before the International Monetary Fund approached a loan of $ 1 billion.
The Indian roupine has weakened 1% compared to the dollar since Wednesday the initial strikes of India, with the classification of the most efficient currencies of Asia and apparently forcing the Central Bank to intervene in the reduction of excessive volatility. The obligations also dropped, the yield at 10 years increasing 3 base points to 6.38%, although the additional decreases were limited by the purchase of debts by the monetary authority.
“The ceasefire should increase well for the FX and Taises markets, which have been hammered in Kneejerk,” said Madhavi Arora, economist at Emkay Global Financial Services Ltd. “We can always see a slight increase in the defense of overall expenses during this fiscal year because India is reappeared in defense of the defense. But that would not really reach the tax tax.”
After the announcement of the ceasefire, Pakistan reopened its airspace to resume the flight operations which were at the national stop, according to the Nation’s Airports Authority.
However, there is no clarity on the question of whether the two countries will make some of the diplomatic measures announced since the attack on the cashmere. These include the suspension of India of a crucial water sharing treaty, the withdrawal of envoys and visa restrictions.
The director general of military operations of Pakistan will then speak with his Indian counterpart at noon on May 12, said the Secretary of Foreign Affairs of India, Vikram Misri, in a statement.
Pakistan and India clashed several times on the contested region of cashmere since the independence of Great Britain in 1947. The last time the two nations got closer to a total war, it was in 2019, after a suicide bomber killed 40 members of the Indian security forces.
“None of the long -standing differences in India and Pakistan will resolve itself anytime soon,” said Hasnain Malik, strategist at Tellimer in Dubai. “But mutual nuclear deterrence and the reluctance of world powers to fade the flames again demonstrated that there was a distance limit for a hot conflict to degenerate.”
This story was initially presented on Fortune.com
