Iran has issued a gloating statement declaring victory over the US after President Donald Trump declared a ceasefire in their war.
Trump announced a two-week ceasefire hours before a self-imposed deadline to begin destroying civilian infrastructure in Iran.
Now, Iran's Supreme National Security Council has celebrated Trump's actions.
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"The enemy has suffered an undeniable, historic and crushing defeat in its cowardly, illegal and criminal war against the Iranian nation," the council said in a statement.
"Iran achieved a great victory and forced the criminal America to accept its 10-point plan.
"We congratulate all the people of Iran on this victory and emphasise that until the details of this victory are finalised, there is still a need for perseverance and prudence on the part of the authorities and for maintaining the unity and solidarity of the Iranian people."
Trump did not address the specifics of the plan, but described it as a "workable basis on which to negotiate".
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Accepting the proposal would mark a dramatic victory for the regime and would leave the US and its allies much worse off than they were at the start of the war.
The plan would allow Iran to continue enriching uranium while forcing the US to withdraw all combat forces from the region.
The plan did not specify what would be counted as "the region", but the US has military bases throughout the Middle East.
It would force the lifting of all primary and secondary sanctions on Iran and require a US guarantee of non-aggression.
It would also require "compensation for damages inflicted on Iran".
Iran would retain its $US2 million ($A2.85 million) toll for ships to exit the Strait of Hormuz, under their 10-point peace proposal issued to the US.
The toll would be split between Iran and Oman, the Arabian nation on the other side of the strait.
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Iran said it would use the proceeds of their half of the toll to rebuild the country.
As a consequence of the toll, oil and other exports from the Persian Gulf would be able to be sold, but at a more expensive price. Six weeks ago, ships could pass through the strait without charge.
Iran has made no concessions in its 10-point plan.
"By accepting these conditions as the basis for negotiations, Trump has retreated from his desperate threats and bluffs," a statement from the Supreme National Security Council has read.
Negotiations between the two nations are set to begin this week in Pakistan, the council said.
Not mentioned in either countries' announcements is the position of Israel on the ceasefire.
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