President Donald Trump signaled on March 9, 2026, that the United States' military campaign against Iran may be drawing to a close, just hours after a phone conversation with Russian President Vladimir Putin. During the call, the Kremlin stated that President Putin presented a proposal aimed at bringing the conflict to a swift resolution.
Speaking to reporters after the extensive discussion with his Russian counterpart, President Trump asserted that American forces have performed "ahead of schedule" in the ongoing military operations. "I think the war is very complete, pretty much," President Trump told CBS News, elaborating on his assessment of Iran's military capabilities. "They have no navy, no communications, they’ve got no Air Force … Wrapping up is all in my mind."
"I think the war is very complete, pretty much. They have no navy, no communications, they’ve got no Air Force … Wrapping up is all in my mind."
The military campaign against Iran follows a period of heightened tensions and direct engagements. Iran had launched retaliatory attacks targeting U.S. military bases and partner nations in the Gulf region, which came after the death of its supreme leader. These actions resulted in the deaths of seven American troops, according to previous reports. In response, the U.S. initiated strikes aimed at dismantling Iran's offensive capabilities.
President Trump further declared that these U.S. strikes had effectively neutralized Iran's military assets, specifically mentioning its missile and drone arsenal. "Their missiles are down to a scatter. Their drones are being blown up all over the place, including their manufacturing of drones," President Trump stated. He concluded his assessment by saying, "If you look, they have nothing left. There’s nothing left in a military sense."
The phone call between President Trump and President Putin was wide-ranging, encompassing discussions beyond the Iran conflict. The two leaders also reportedly addressed the ongoing war in Ukraine and the prevailing oil market conditions in Venezuela. However, the immediate focus of President Trump's public comments centered on Iran.
Earlier, President Trump had cautioned that the military campaign against Iran could extend beyond its initial four-week timeline. However, speaking at a Republican members conference in Doral, he walked back that warning, reiterating his expectation for a quick conclusion. "We took a little excursion because we felt we had to do that to get rid of some evil. I think you’ll see it’s going to be a short term excursion," President Trump said, praising the U.S. military. "How good is our military, right? Amazing. Short term. Short term." When pressed by a reporter on whether "soon" meant "this week," President Trump responded, "No, soon. Everything they have is gone."
The conflict has had significant economic repercussions, particularly in global energy markets. The closure of the Strait of Hormuz, a crucial waterway linking the Persian Gulf to the Gulf of Oman, has been a major concern. Approximately one-fifth of the world's oil supply transits through this narrow strait, which Iran has reportedly targeted with drone and missile attacks against America’s Arab allies. This disruption drove oil prices sharply higher.
Following President Trump's suggestion of a potential U.S. takeover of the Strait of Hormuz, U.S. oil prices saw a notable decline, falling to $86 per barrel from a high of $91. Financial markets, which had experienced significant downturns earlier in the trading session, showed signs of recovery on the news of potential de-escalation. Reports indicated that the Dow Jones Industrial Average closed up 200 points after an earlier plunge of nearly 900 points. Similarly, the S&P 500 gained 0.8 percent, and the Nasdaq rebounded 1.4 percent after having fallen by as much as 1.5 percent. American consumers have already felt the impact, with the national average price for a gallon of gasoline rising to $3.40, up from $2.90 before the conflict began, according to AAA.
Regarding Iran's leadership, President Trump stated to the New York Post that he had no interest in communicating with Mojtaba Khamenei, Iran's newly appointed Supreme Leader. "I have no message for him. None, whatsoever," President Trump said, adding that he was "not happy" with Khamenei's ascension to power. When asked about potential future actions, President Trump declined to elaborate, stating, "Not going to tell you…Not going to tell you. I’m not happy with him." Reports also indicated that President Trump had privately told close aides he would support the elimination of Khamenei if the new leader refused to abandon Iran’s nuclear program.
