US President Donald Trump stated in an address to the nation on the 1st that the United States is “close to achieving” its objectives in the war against Iran, at a time when global markets are reacting with rising oil prices and falling Asian stock markets.
In a televised address, Trump indicated that attacks over the next two to three weeks will be of “extreme force,” reinforcing the idea of a final phase of the conflict. “Tonight, I am pleased to say that these fundamental strategic objectives are nearly met,” he stated.
“Our armed forces have achieved rapid, decisive, and overwhelming victories on the battlefield,” he added, while threatening to intensify the offensive: “In the coming weeks, we will send them back to the Stone Ages, where they belong.”
Despite the confident tone, the speech failed to calm the energy markets. The price of Brent crude, which was already hovering around $100 (€86.6) per barrel before the speech, rose about 4% afterward, reaching $105.38 (€91.26).
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The instability is directly linked to the blockade of the Strait of Hormuz, a strategic route through which about 20% of the world’s energy supply passes. The sea lane has been virtually closed since the conflict began on February 28, when Iran retaliated against attacks by the United States and Israel.
Trump stated that responsibility for the route’s security should fall on other countries dependent on oil transported through the region. “The countries that receive oil through the Strait of Hormuz need to take care of that passage,” he declared.
At the same time, Asian financial markets reacted negatively to the escalating tensions. The region’s major stock exchanges reversed initial gains and recorded significant declines.
Japan’s Nikkei 225 index fell 1.5%, while South Korea’s Kospi dropped 2.6%. Hong Kong’s Hang Seng index, meanwhile, declined 1%. Volatility has marked Asian markets since the start of the war, reflecting the region’s heavy energy dependence on the Middle East.
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Trump also renewed his criticism of NATO allies for not taking a more active role in the conflict, insisting that the United States is capable of acting on its own. “Iran has been practically devastated. The hardest part is over,” he said.
The President also praised Israel and the Gulf states, highlighting their role in the conflict, but did not address concrete diplomatic solutions or the future of Iran’s nuclear program.
The speech, which lasted less than 20 minutes, comes as the war enters its second month, with no clear signs of de-escalation and a growing impact on the global economy, energy prices, and the stability of international markets.
