Donald Trump has declared that the war against Iran is “effectively over”, signalling that Washington is unlikely to launch another major military offensive against Tehran anytime soon. His remarks follow months of conflict that have unsettled global energy markets, pushed up fuel prices and heightened tensions across the Middle East.
Speaking at a White House press conference on Monday, Trump said further military action was unnecessary under the present circumstances, although American forces remained prepared to respond if required.
The comments came after discussions with Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, who has been involved in diplomatic efforts to prevent renewed hostilities.
Trump suggested that diplomatic efforts were gaining momentum and that the conflict could end relatively soon.
Qatar, Saudi Arabia, the UAE, Bahrain and Kuwait have been urging Washington to avoid further escalation, fearing the economic and security consequences of another round of fighting.
In a post on Truth Social, Trump said Gulf leaders favoured maintaining the existing situation, including the American naval blockade of Iranian ports, rather than resuming large-scale military operations.
However, the President reiterated that Iran would not be permitted to develop nuclear weapons. He warned that Washington could restart military operations if circumstances changed.
Trump's remarks come days after Republicans suffered a major setback in the US midterm elections, losing control of both chambers of Congress.
The Iran war, which began in February, has become an increasingly contentious issue in American politics. Vice-President JD Vance acknowledged that the conflict contributed to the party's electoral losses.
Before the elections, Washington had continued deploying military personnel to the Middle East, fuelling speculation that Trump might resume attacks once voting was over.
The administration's latest position suggests a preference for diplomacy, although the military option remains open.
The possibility of reduced military tensions has raised hopes of greater stability in global energy markets. Oil prices fell sharply following renewed expectations of diplomatic progress, providing some relief from inflation concerns.
For oil-importing economies such as India, a sustained easing of tensions could help contain energy costs, reduce inflationary pressure and support economic growth.
However, the conflict remains unresolved. The US naval blockade continues, and Iran is demanding sanctions relief and other concessions.
Trump has repeatedly suggested that a peace agreement was imminent during the conflict, without a final settlement materialising.
The immediate threat of escalation may have diminished, but a lasting peace remains uncertain.