Translated material
Trump in an interview with CBS: The war may end soon
US President Donald Trump told CBS news correspondent Wei Jiang that the war could end soon. She quotes him as saying on her X account :
"I think the war is practically over. They have no navy, no communications, they have no air force."
The President also added that the United States is significantly ahead of the initial estimate of the operation's duration of 4-5 weeks.
As for the Strait of Hormuz, whose blockade has sent oil prices soaring, Trump said ships are now passing through but he is "thinking about taking control of it."
Trump said Iran "has used every tool at its disposal and it better not try any more tricks or it will be the end of the country."
Commenting on Iran's election of new Supreme Leader Mojtaba Khamenei, whom Trump has previously criticized, he said: "I don't have any message for him" and said he had ideas for who could replace Khamenei, but did not elaborate.
G7 reaction to oil price hike
The G7 countries have not yet promised to unlock emergency oil reserves, despite a surge in global oil prices due to the US-Israeli war against Iran.
As reported by Reuters, the “seven” announced their readiness to take “the necessary measures to stabilize the markets,” but “are not yet ready to unlock reserves,” the agency quotes French Finance Minister Roland Lescure as saying. He stated that there are currently no supply problems either in Europe or the United States. However, the final decision will be made by the G7 leaders.
Oil prices on Monday reached their highest levels since mid-2022, in particular, the price of Brent reached almost $120 per barrel at the opening of trading, but then fell slightly.
Overall, Brent oil prices have increased by 65% since the start of the war.
- After Trump's announcement about the possibility of a quick end to the war, oil prices fell and stock markets jumped, Bloomberg reports .
General situation
As a result of Iran's bombing and retaliatory strikes, the Strait of Hormuz, through which about 20% of the world's seaborne oil supplies pass, was effectively closed. Oil facilities in Middle Eastern countries came under Iranian attacks.
They have begun to cut oil production as supply is blocked and storage is exhausted - and even if the Strait of Hormuz opens soon, it will take time for exports to recover.
A shortage of oil and, as a consequence, an increase in oil prices, if the war continues for a significant period of time, can lead to increased inflation and a global economic recession.
US President Donald Trump previously said that rising prices are “a very small price to pay for security and peace for the United States and the world.” Trump said prices would fall quickly once the threat of Iran's nuclear program was eliminated.
Trump in an interview with CBS: The war may end soon