Trump Says Iran War Is 'Very Close to Over'

President Donald Trump declared the six-week war with Iran "very close to over" on 15 April 2026, even as the U.S. Navy maintained a full blockade of Iranian ports and Pentagon officials confirmed that American forces had turned back 10 commercial vessels since the operation began Monday.

U.S. Central Command said its naval cordon "has been fully implemented," halting all sea-borne trade with Iran. Tehran's National Petrochemical Company suspended exports of all petrochemical products "until further notice" on 15 April, citing damage from U.S.-Israeli airstrikes between 28 February and 8 April 2026 and blockade-driven disruptions to tanker scheduling. The suspension threatens approximately $2.4 billion in monthly revenue, according to Iran's 2025 trade statistics from the Central Bank of Iran — money that has historically funded domestic fuel subsidies and procurement for the Islamic Revolutionary Guard Corps.

A second round of direct U.S.-Iran talks in Islamabad, Pakistan, is expected "as early as this week," Trump wrote on Truth Social on 15 April, calling Pakistan "an extraordinary facilitator." Iranian Foreign Minister Abbas Araghchi said Tehran "remains committed to promoting peace" after meeting Pakistani Army Chief General Asim Munir in Tehran on 15 April — the same official who helped broker the 7 April two-week ceasefire that paused U.S. bombing of Iranian nuclear facilities. The White House said it feels "good about prospects" for a broader agreement.

“Markets moved sharply on Trump's comments.”

Markets moved sharply on Trump's comments. The S&P 500 rose 1.9 percent on 15 April to its highest close since the war began on 28 February 2026, while Brent crude fell $4.12 a barrel to $92.80 — still well above the pre-conflict level of approximately $75. "The market is pricing in a deal, not a ceasefire," said James Athey, Chief Investment Officer at Marlborough Investment Management, speaking to the Financial Times on 15 April 2026. "A deal that allows Iranian oil flows to resume fully would be worth another $10 to $15 off Brent."

Not every ally shared the White House's optimism or its coalition ambitions. British Prime Minister Keir Starmer told reporters in London on 15 April that the United Kingdom would not be drawn into the conflict. "We are not going to get dragged into this war," Starmer said. "Our role is humanitarian support and backing diplomatic efforts." The statement landed as senior Republican senators were privately pressing European partners to contribute naval assets to the blockade — a conversation British officials said had produced no agreement.

In the U.S. Senate, Republicans blocked a Democratic resolution on 15 April that invoked the War Powers Act to require congressional authorisation for the naval blockade. The vote was 47 in favour and 53 opposed, falling 13 short of the 60 needed to proceed. Senate Majority Leader John Thune called the blockade "legally sound," while Minority Leader Chuck Schumer described the outcome as "a failure of Congress to uphold its constitutional responsibility." No Republican crossed the aisle.

Iran's economy is deteriorating rapidly. The Central Bank of Iran reported on 14 April that the rial had fallen 38 percent against the U.S. dollar since late February, with annual inflation running at 84 percent in March 2026 — the highest rate since 2019. State media showed food distribution queues in south Tehran. Internal government communications reviewed by The Wall Street Journal suggested the Supreme National Security Council held an emergency session on 14 April to assess food supply chain stability across the country's largest cities.

Ali Vaez, Iran Project Director at the International Crisis Group, offered a pointed assessment on 15 April. "Iran has come to the table," he told Reuters, "but it has not yet agreed to anything. The distance between 'very close to over' and an actual deal remains very, very large." The gap will be tested at whatever talks take place this week in Islamabad — and in the oil markets that wake up each morning counting the ships still waiting at the Strait of Hormuz.