President Donald Trump said on Sept. 29 that the United States was nearing victory in its conflict with Iran and predicted that Tehran would eventually give up, although he said he did not know whether it was ready to do so yet. “I don’t know if they are going to give up yet but they’ll give up,” Trump told reporters. He added that Iran was doing “very poorly.”

Trump has said the United States would win “one way or another” and that the outcome would come quite quickly. U.S. officials have spoken with mediators seeking to end the hostilities, while Washington’s stated priority remains preventing Iran from obtaining nuclear weapons. Trump has also said the United States intervened to prevent what he described as the possible destruction of Israel and the Middle East. His account was not independently verified.

Economic pressure and oil prices

A U.S. blockade has sharply reduced Iran’s oil exports, one of the country’s main sources of revenue, while the economic costs of the war have made daily life more difficult for Iranians. The conflict has also pushed oil prices higher, creating a political problem for Trump and his Republican Party as the November midterm elections approach.

The Strait of Hormuz remains at the center of the crisis. Before the war, about one-fifth of global supplies of crude oil and liquefied natural gas passed through the strategic waterway. The conflict has led to its blockade, raising concerns about energy supplies and further price increases. Trump has predicted that oil and fuel prices will fall sharply once the conflict ends.

Iran rejects pressure

Iran’s president told the U.N. General Assembly last week that Tehran would never surrender to U.S. pressure. Iran’s Supreme Leader Mojtaba Khamenei has separately said the United States would eventually leave the Middle East after suffering “painful blows” in the Strait of Hormuz.

Reports say the war began on Feb. 28, when the United States and Israel attacked Iran and Tehran responded with strikes on Israel and Gulf countries hosting U.S. military bases. U.S.-Israeli attacks on Iran and Israeli attacks on Lebanon have killed thousands and displaced millions, according to the reports. Trump has presented shifting goals and timelines for the military operation, leaving the next phase uncertain.

Explosions reported near Qeshm Island

Iranian state media reported explosions at sea near Qeshm Island. Iranian outlets linked them to operations involving vessels that allegedly failed to follow routes designated by Iranian authorities. The cause was not independently confirmed. Tehran has demanded that ships use approved routes, while Washington has insisted on freedom of navigation.

Other Trump comments

Trump criticized the release on bail or under restrictions of five British men arrested near RAF Fairford. The men, aged 23 to 25, remain under investigation on suspicion of preparing a terrorist act and offenses under explosives legislation. No connection to a foreign state has been established, and Iran has denied involvement.

Trump also said the United States and Canada would eventually reach a trade agreement. He announced plans by Mesabi Metallics to build a major steel mill in Iowa, an investment of $18 billion expected to create 6,000 construction jobs and 2,000 long-term industrial positions. He did not rule out further military strikes against Iran before the November midterm elections.