President Donald Trump said the war in Iran is “very close” to completion, seeking to reassure Americans about his handling of a conflict that has roiled financial markets and jeopardized his political standing with American voters.
Trump in a rare prime-time address on Wednesday cast the war as a success, saying the operation had nearly achieved its military goals, including destroying Iranian ballistic missiles and drones, air force, navy and industrial base. He said those steps would prevent Tehran’s proxies from destabilizing the region and cut off the country’s path to nuclear weapons.
“Tonight I’m pleased to say that these core strategic objectives are nearing completion,” Trump said from the White House. “We are going to finish the job. and we’re going to finish it very fast, we’re getting very close.”
The president nevertheless suggested that military operations could soon escalate, saying “over the next two to three weeks, we’re going to bring them back to the stone ages where they belong.” But he also suggested diplomacy would continue, adding, “in the meantime, discussions are ongoing.”
Brent oil futures up 3.97% to $105.18 a barrel as the president spoke. Nasdaq futures fell 0.88%; Spot gold fell 1.39% after an initial rally of 1%.
Trump’s decision to deliver a rare prime-time address highlights the growing pressure to make his war aims more clear to the American public and how the administration has been searching for an off-ramp to a conflict — now in its fifth week — that has become harder for the US to control.
In some ways, the speech sounded like one a president traditionally gives at the outset of a conflict, not more than a month in. He opened his remarks by saying he wanted to “discuss why Operation Epic Fury is necessary for the safety of America and the security of the free world.”
The Strait of Hormuz, a critical waterway for one-fifth of seaborne oil, has been largely closed since the start of hostilities, presenting a major economic pain point. The strait’s status has traders on edge with Brent crude — the international oil benchmark — surging about 60% since the war began and US gasoline topping $4 a gallon.
Trump has insisted the energy shocks will ease once the war is over but the administration has yet to make clear how it will convince Iran to let traffic resume through the strait.