U.S. President Donald Trump said he will hit Iran "extremely hard" within the next two to three weeks. Asian stock markets, which had expected a ceasefire declaration or a timeline for scaling back military action, tumbled while oil prices surged.
"We will bomb them back to the stone ages," Trump said in a nationally televised address on Thursday (local time). "If no deal is reached during this period, we will strike Iran's power plants very strongly," he warned, adding that the U.S. would also target Iranian oil facilities that have not been hit so far.
Earlier in the day, Trump posted on Truth Social that Iran's new president had requested a ceasefire, and that he would consider one if free passage through the Strait of Hormuz were secured. His address was interpreted as pressuring Iran to reach a deal — including on strait passage — within the next two to three weeks.
Trump reiterated his claim that the war's core objectives are nearing completion. "Our goals are very simple and clear," he said, listing them as:
▲ Destroying Iran's ballistic missile arsenal and production capability
▲ Annihilating its navy
▲ Cutting off support for terror-sponsoring forces
▲ Blocking nuclear weapons capability
"Our military objectives are on track to be accomplished very soon," Trump said.
He also expressed his commitment to protecting Middle Eastern allies. "I want to thank Israel, Saudi Arabia, Qatar, the United Arab Emirates, Kuwait and Bahrain. They have been wonderful," Trump said. "We will never tolerate them being harmed in any way."
Trump reaffirmed his position that nations receiving oil through the Strait of Hormuz should take the lead in managing the waterway. "Countries that receive oil through the Strait of Hormuz must take the lead in protecting their oil," he said. "We will help." He also repeated a proposal he had posted on Truth Social. "Buy oil from the United States. Or you should have come with us to the strait to occupy and protect it," he said, urging oil-importing nations to either purchase American oil or go to the Strait of Hormuz and secure their own supply.
Foreign media had reported ahead of the address, citing sources, that Trump would deliver sharp criticism of the North Atlantic Treaty Organization (NATO), but he made no direct mention of the alliance.
Trump listed the durations of past wars, including the Korean War and the World Wars, arguing that the current conflict has lasted only 32 days and is an investment for future generations. "America's involvement in World War I lasted one year, seven months and five days. World War II lasted three years, eight months and 25 days. The Korean War lasted three years, one month and two days," he said. "The Vietnam War continued for 19 years, five months and 29 days. The Iraq War lasted eight years, eight months and 28 days." He continued: "We have been conducting a powerful and outstanding military operation against one of the most powerful nations for 32 days. They were the bully of the Middle East, but no longer. This is a true investment in the future of your children and grandchildren." He added: "Once oil supplies resume, oil prices will drop sharply and stock prices will rise sharply."
Reuters assessed that "Trump told Americans that goals related to the Iran war are nearly achieved but did not provide a specific timeline for scaling back military action."
Following Trump's remarks, the KOSPI was trading down 3.4% and the KOSDAQ was down 3.6%, while Japan's Nikkei index fell 1.25%. Brent crude futures, which had been trading near $100 per barrel, rose 4.56% to $105.76. West Texas Intermediate (WTI), which had been trading in the $90 range, climbed 3.76% to $103.87.
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