Washington: US President Donald Trump has indicated that Washington is increasingly relying on economic pressure rather than launching fresh military strikes against Iran, as efforts continue to push Tehran towards a negotiated settlement. In an interview with Axios on Sunday, Trump said the US was “low-keying it” and was only “semi-negotiating” with Iran while assessing the economic impact of the ongoing conflict on the country.

Trump claimed Iran was facing severe financial pressure, including high inflation and difficulties in meeting military expenses. He attributed part of the strain to the US naval blockade imposed in April, saying it had intensified pressure on Tehran. The president also noted that oil prices had fallen to just above $75 a barrel, helping reduce the economic impact of the conflict on American consumers.

His comments come as Oman-mediated negotiations over reopening the Strait of Hormuz to international shipping reportedly move closer to a breakthrough. Iran’s foreign ministry has said the discussions have entered their final stages, with the two sides nearing an understanding on coordinates for a new shipping route. Tehran, however, has maintained that a full reopening of the strategic waterway depends on changes in US policy, including lifting the naval blockade, ending military actions and addressing its demands for war damages.

A ceasefire reached in June collapsed weeks later amid disagreements over control of the Strait of Hormuz, leading to renewed fighting. Since then, Iran has continued intermittent strikes on US bases in Kuwait, Bahrain and Jordan, while Yemen’s Iran-aligned Houthis announced a separate naval blockade against Saudi Arabia last month. Trump expressed confidence that the pressure strategy would eventually produce results, describing the situation as a “chess game”.

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