Donald Trump said the United States could leave the war in Iran within two to three weeks once Washington is confident that Tehran cannot develop a nuclear weapon for years.
Speaking in the Oval Office, the US president said Iran was “begging to make a deal,” but added that whether an agreement is reached is “irrelevant” to America’s timetable.
Trump is expected to deliver a national address on the Iran conflict on Wednesday night in Washington.
According to a report by The Wall Street Journal, Trump has told aides he is willing to end the conflict even if the strategic Strait of Hormuz remains closed.
The strait is one of the world’s most important oil routes, previously carrying around one-fifth of global oil supplies. Its closure over the past month has sent oil prices sharply higher and disrupted global energy markets.
Financial markets reacted positively to the report, with the S&P 500 rising about 1.4% and the Nasdaq Composite gaining nearly 2% during trading on Tuesday.
Iranian President Masoud Pezeshkian said his country has the “necessary will” to end the war with the United States and Israel, provided certain conditions are met.
However, tensions remain high as officials in Tehran continue to issue strong warnings over the closure of the Strait of Hormuz.
Ebrahim Azizi, head of the Iranian Parliament’s National Security Committee, said in a message posted on X that the Strait of Hormuz would reopen “but not for you,” referring to Trump.
Iran’s move to block the shipping lane has contributed to rising global energy prices and increased pressure on international markets.
Overnight, Israel and Iran continued to exchange strikes.
Officials reported injuries following a strike near Tel Aviv. Meanwhile, two projectiles hit a tanker off the coast of Qatar, and a man was killed in the United Arab Emirates amid ongoing regional tensions.
In the United Kingdom, Prime Minister Keir Starmer is expected to hold a press conference to address the conflict and the government’s response to rising energy and living costs linked to the crisis.
Analysts warn that the continued closure of the Strait of Hormuz could have significant global economic consequences, particularly for energy markets and international trade.