Donald Trump said the US was considering “winding down” military operations against Iran, but added he does not want a ceasefire as the US is “getting very close to meeting our objectives.”
Iran’s new supreme leader Mojtaba Khamenei claimed Tehran had dealt a “dizzying blow” to its adversaries in the three-week-old conflict.
The conflict rattled global markets, with Brent crude rising to $112.19 a barrel and the S&P 500 falling 1.5% amid fears of supply disruptions through the Strait of Hormuz.
Trump Says US ‘Close to Objectives’ in Iran War, Rejects Ceasefire
Oil surges and markets fall as Iran claims a “dizzying blow” and tensions escalate across West Asia
Summary
On Friday, March 20, 2026, President Donald Trump stated that while the United States was thinking about "winding down" military operations against Iran, it was not looking for a ceasefire with the Islamic Republic.
In a statement on the first day of the Persian New Year, Iran's new supreme leader, Mojtaba Khamenei, asserted that he had dealt a "dizzying blow" to adversaries in the three-week-old conflict in West Asia.
After a strike left a crater in the Old City close to the Al-Aqsa Mosque, Western Wall, and Church of the Holy Sepulchre, Israel accused Iran of targeting Jerusalem's sacred sites. New explosions struck Tehran on Friday, March 20, 2026.
On Wall Street, stocks ended sharply lower after oil prices shot up on fears that lengthy supply disruptions could lead to a global economic downturn.
With the international benchmark, Brent crude, jumping 3.3 percent to $112.19 a barrel and the broad-based S&P 500 down 1.5%, all three major indices were firmly in the red.
In the meantime, Turkey called Israel's attacks on Syrian military camp in southern Syria a "dangerous escalation" and called on the international community to step in.
Trump, in a post on Truth Social, said the United States was "getting very close to meeting our objectives as we consider winding down our great Military efforts in the Middle East".
"I think we have won," Trump said. "I don't want to do a ceasefire. You know you don't do a ceasefire when you're literally obliterating the other side."
The US president's social media tweet was the clearest sign to date that he might be ready to put an end to hostilities.
It happened soon after Trump said to reporters at the White House that he was not seeking a ceasefire.
A fifth of the world's crude oil and liquefied natural gas transit through the Strait of Hormuz shipping path during peacetime, but Iran has essentially blockaded it. Trump stated in his statement that other countries will be responsible for safeguarding the trade lane.
Advertisement
Trump also said the United States wants to talk to Iran but "there's nobody to talk to" because of the killing of Iran's former supreme leader and other top officials.
Iran's new supreme leader has not appeared in public since being named to succeed his father, Ali Khamenei.
Published At:
Tags