U.S. President Donald Trump said on Monday that the U.S.-Israel war on Iran is "effectively" over. This statement followed a meeting with Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani at the White House. Trump noted that the U.S. military has destroyed Iran's military capabilities. However, he acknowledged that a naval blockade against Iranian ports will continue.
Key Details
During the meeting, Trump talked about efforts to end hostilities with key regional allies. He stated, "Iran militarily is effectively over. We’re just keeping it the status quo, and we’re doing that really at the behest of countries that are their neighbours." The Qatari Prime Minister shared optimism about the discussions, saying, "We discussed the situation in the region and ways to progress the US-Iran talks."
These talks follow Iran's proposal for a two-day plan to build mutual trust. The first day would involve lifting the U.S. naval blockade and releasing some of Iran's frozen assets. In return, Iran would allow inspections by the International Atomic Energy Agency at its nuclear sites. However, this plan depends on the U.S. agreeing to Tehran's seven conditions. These include canceling new sanctions and reinstating an oil waiver.
Background
Despite the positive tone of the discussions, senior officials are skeptical about a breakthrough. U.S. Secretary of State Marco Rubio said, "I wouldn’t say we’re at the verge of a breakthrough." He indicated that significant concessions from both sides are still needed.
Related coverage: US, Israel Plan Renewed Strikes on Iran After Midterms.
The ongoing geopolitical situation could affect oil prices. This is especially true if tensions rise or if a peace deal is reached that changes the current sanctions regime. Investors will closely watch for further developments in U.S.-Iran negotiations and any official announcements about sanctions or military actions.
Based on reporting by: foreignpolicy.com, aljazeera.com