Iran War: Trump Claims US Campaign ‘Approaching Final Stages’

President Donald Trump declared that American military operations would reduce Iran to ‘the Stone Ages’ during a speech to the public about the ongoing conflict. He emphasized that the nation’s strategic goals in the campaign were ‘almost complete,’ with the focus on dismantling Iran’s military capabilities. The remarks came as Iran prepared to retaliate with a ‘relentless’ response to the recent US-Israeli strikes.

UK Summit to Address Strait of Hormuz Crisis

On Thursday, April 2, the United Kingdom is convening a virtual gathering of approximately 35 nations to explore ways of reopening the Strait of Hormuz. Prime Minister Keir Starmer confirmed that Foreign Secretary Yvette Cooper would lead the discussions, aiming to ‘evaluate all possible diplomatic and political steps to ensure free passage of ships, protect maritime trade, and stabilize global energy supplies.’ The strait, a crucial route for about 20% of the world’s crude oil, has been blocked by Iranian attacks on commercial vessels and the threat of further strikes.

“Resuming shipping will not be easy, and it will require a coordinated effort between military might and diplomatic strategies, alongside collaboration with the shipping sector,” Starmer stated.

Starmer noted that the halt in traffic through the strait—connecting the Persian Gulf to the Indian Ocean—has caused a sharp increase in oil and petroleum prices. He added that a ‘united front of military strength and diplomatic activity’ would be essential to secure the waterway once the fighting subsides. Participating nations include Germany, France, and Japan, all of which have pledged support for safe maritime transit.

Global Markets Reflect Strategic Uncertainty

Following Trump’s address, oil prices spiked again, with Brent crude rising 5% to $106.22 per barrel and US crude increasing 4.2% to $104.36. Meanwhile, Asian stock markets reacted negatively, with Tokyo’s Nikkei 225 declining 1.4% to 53,004.81 and South Korea’s Kospi dropping 3.4% to 5,292.36. Hong Kong’s Hang Seng fell 0.8% to 25,082.59. US and European stock futures also fell by 1% and over 1.5%, respectively.

Trump reiterated that the campaign against Iran was nearing its end, though he did not specify a timeline. Despite his assurances, global markets remained anxious. He attributed the recent oil price surge to Iran’s ‘deranged terror attacks’ on oil tankers and neighboring countries, calling it a ‘short-term’ consequence.

“The Iranian regime’s attacks on commercial ships and its aggression have directly caused the price increase. We’re close to completing our mission and will finish it swiftly,” Trump said.