Major developments we’re following:

• Iran, the United States and Israel agreed to a two-week ceasefire on Tuesday, an 11th-hour deal that headed off U.S. President Donald Trump’s threat to unleash a bombing campaign that would destroy Iranian civilization. Hours after the announcement, Iran and Gulf Arab countries reported new attacks Wednesday, though it was not clear if the strikes would scuttle the deal.
• All sides have presented vastly different versions of the terms. Iran said the deal would allow it to formalize its new practice of charging ships passing through the Strait of Hormuz. Trump said the U.S. would work with Iran to remove buried enriched uranium, though Iran did not confirm that.
• Pakistan and others said fighting would pause in Lebanon, which Israel has invaded to fight the Iran-backed Hezbollah militant group, but Israeli Prime Minister Benjamin Netanyahu said early Wednesday that the deal doesn’t cover fighting against Hezbollah.Israeli strikes hit several dense commercial and residential areas in central Beirut Wednesday afternoon without warning, killing dozens and wounding hundreds of people.
• The ceasefire may formalize a system of charging fees in the Strait of Hormuz that Iran instituted — and give it a new source of revenue. Iranian attacks and threats deterred many commercial ships from passing through the waterway, through which 20% of all traded oil and natural gas passes in peacetime.