Update: April 1, 1:30 am UTC: This article has been updated to include more details surrounding US President Donald Trump’s comments and background information.
US President Donald Trump said the US could wrap up its military campaign in Iran within weeks, claiming the goal of eliminating Iran’s nuclear capabilities had been achieved.
Speaking to reporters at the White House during an executive order signing ceremony on Tuesday, Trump said the exit could come within two to three weeks because “there’s no reason for us to do this.”
“I had one goal: They will have no nuclear weapons, and that goal has been attained. They will not have nuclear weapons, but we're finishing the job and I think within maybe two weeks, maybe a couple of days longer to do the job, but we want to knock out every single thing they have,” he added.
The Middle East conflict has been escalating since the US and Israel launched strikes against Iran in February, triggering an Iranian-led blockade of the Strait of Hormuz, a narrow waterway that ranks among the world's busiest oil shipping channels.
The turmoil has driven oil prices higher while sending cryptocurrencies and broader markets tumbling.
US exit is not dependent on reopening the Strait of Hormuz
Trump told aides he is willing to end the military campaign against Iran even with the Strait of Hormuz remaining mostly closed, according to The Wall Street Journal.
He also told reporters at the White House that a deal with what is left of the Iranian leadership is not necessary for the withdrawal.
“If they come to the table, that'll be good. But doesn't matter whether they come or not. We've set them back. It'll take 15 to 20 years for them to rebuild what we've done to them,” Trump said.
“They have no navy. They have no military. They have no air force. They have no telecommunications. They have no anti-aircraft systems. They have no leaders, you know. Their leaders are all gone. That's why we have regime change,” he added.
Trump’s comments came hours after US Defense Secretary Pete Hegseth told reporters at the Pentagon on Tuesday that Iran still has the ability to launch offensive missiles, despite ongoing strikes against Iran’s military capabilities.
Crypto and stocks post small gains
In early March, oil prices fell while crypto posted modest gains after Trump told reporters the war with Iran could be coming to an end.
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The crypto market capitalization is up 1.1% over the past 24 hours, with Bitcoin (BTC) trading at around $67,858 for a 1.6% gain, according to CoinGecko. At the same time, Ether (ETH) has risen 3.5% to trade around $2,097.
Meanwhile, the S&P 500, which tracks the performance of 500 leading companies listed on US exchanges, also registered gains, ending Tuesday's trading session up 2.91%.
The Dow Jones Industrial Average, an index of 30 prominent companies listed on US exchanges, also jumped 2.49%.
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