“We are very close to achieving our goals as we consider ending our major military operations in the Middle East,” Trump wrote on social media Friday. He emphasized that his country was “very close to achieving its goals.” Among them he mentioned complete “destruction” of Iran's missile capabilities, defense industry, navy and air force, as well as preventing the development of Iran's nuclear program and protecting allies in the Middle East.
Read also: The war in Iran is hitting state finances. Shock in Great Britain
However, it is unclear how Iran will react to a possible unilateral termination of the operation. In recent days, American attacks have hit the country's energy infrastructure, and the victims include, among others. the head of Iran's security services, Ali Larijani. Tehran responded with further attacks on the Persian Gulf countries and shows no readiness to talk about reopening the Strait of Hormuz.
Strait of Hormuz – a new US strategy
Trump also referred to the issue of the Strait of Hormuz, through which approximately 20% of the world flows. global oil and gas supplies. The president suggested that the responsibility for patrolling it should be taken over by the countries using this route, and the US would only get involved at their request. “The Strait of Hormuz will have to be protected and patrolled by other countries that use it – the US will not do this!” – Trump emphasized. He added that American assistance will be possible if the threat from Iran is eliminated.
However, the president's new proposal ignores the global nature of the raw materials market. Despite record oil production in the US, global prices of the commodity are set on international markets, which means that any disruptions in Hormuz will be felt by both American and Chinese consumers.
Markets react to Trump's statements
On Friday, oil prices rose to their highest level since mid-2022 – Brent exceeded $112. per barrel. After Trump's declarations about the possible end of the conflict, prices dropped and stabilized around $108. per barrel. American stock indices ended the week with declines, and Treasury bond yields increased due to expectations of Fed interest rate increases. Gold recorded its worst week in four decades.
When asked about the possibility of sending ground troops to Kharg Island – a key point for Iranian oil exports – Trump did not rule out such a scenario. The Pentagon asked Congress for an additional $200 billion. to wage war, which – according to analysts – indicates that the conflict will not end quickly.
The president's administration is facing mounting pressure ahead of the November congressional elections. Fuel prices in the US have reached their highest level since 2022, and the energy market regulator in California warns against price speculation.
