United States President Donald Trump has announced that the ongoing war with Iran is “very complete” and may soon conclude. Speaking from Florida on Tuesday, Trump described the 11-day conflict as a “short-term excursion” aimed at removing regional threats. This assessment comes despite continued airstrikes and defiant rhetoric from Tehran regarding the future of the Middle East.
Financial markets have experienced extreme volatility as investors analyse the potential for a swift resolution to the hostilities. Brent crude prices surged to a four-year high of nearly $120 per barrel on Monday before retreating below $100 following Trump’s comments. The president suggested the war was ahead of schedule.
The Iran War has significantly impacted international shipping, particularly through the vital Strait of Hormuz. Iran’s Revolutionary Guards recently threatened to block all regional oil exports if US-Israeli attacks continued.
In response, Trump warned that the US would hit Iran “twenty times harder” if it attempted to stop the flow of oil. He also indicated that he was considering a plan for the US military to take over the strait.
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The conflict reached a turning point on 28 February when US and Israeli forces began strikes that killed Ayatollah Ali Khamenei. His son, Mojtaba Khamenei, has since been named the new supreme leader amidst deep national divisions. While pro-establishment crowds celebrated in Tehran, many residents expressed fear that the new leader would be even more repressive than his father.
Military operations continue across the region as the Iran War enters its second week. Israeli forces have extended their campaign into Lebanon, targeting Hezbollah infrastructure in Beirut and southern coastal areas. At least 1,332 Iranian civilians have reportedly been killed since the start of the joint operation.
Image via YouGov.
