Iran warned it could wage a prolonged conflict with the United States and Israel that could “destroy” the global economy, while U.S. president Donald Trump said the country was approaching defeat.
The conflicting remarks came as fighting around the strategic Strait of Hormuz continued to disrupt global energy markets. This narrow waterway carries roughly one-fifth of the world’s oil, and shipping traffic there has been heavily affected by missile and drone attacks during the conflict.
Oil prices have surged since February 28th, when the United States and Israel launched air strikes on Iran that killed the country’s supreme leader. Iranian retaliatory actions have since targeted shipping routes and regional infrastructure, forcing governments and markets to respond to the growing instability.
Speaking to reporters on Wednesday, March 11th Trump said Iran was “pretty much at the end of the line.” He stated that Iran’s navy and air force had been destroyed and that the country was close to running out of missiles.
“Doesn’t mean we’re going to end it immediately, but they are,” Trump said, adding that U.S. forces could disable Iran’s electricity supply “within one hour.”
At the same time, the U.S. president suggested restraint, saying he preferred not to take steps that would make it
almost impossible for them to rebuild their country.
Trump also said the United States had struck 28 Iranian mine-laying vessels and authorized the release of 172 million barrels from U.S. strategic reserves to help stabilize energy markets.
