Trump says war to end ‘very soon,’ floats removing oil sanctions

President Donald Trump said he plans to waive oil-related sanctions, have the US Navy escort tankers through the Strait of Hormuz and predicted the war with Iran would resolve “very soon” as he confronted mounting economic and political pressures after days of dramatic fluctuations in oil markets.

The president said that he did not believe the conflict would be over this week, but insisted the operation was ahead of schedule and looked to shore up investors increasingly concerned about energy prices. He vowed bombing “at a much, much harder level” if Iran disrupted oil supplies alongside his sanctions pledge.

“We’re looking to keep the oil prices down,” Trump said at a news conference at his resort in Doral, Florida. “They went artificially up because of this excursion.”

The president did not offer additional specifics, beyond acknowledging he had discussed the topic with Russian President Vladimir Putin in a phone call earlier Monday. Russia has faced sanctions on its oil revenue in an international bid to deprive the country of revenue over its war in Ukraine.

But as a whole, Trump’s remarks underscored a new willingness by the White House to publicly indicate that it could be moving soon to attempt to wrap up the conflict. 

“Together with our Israeli partners, we’re crushing the enemy in an overwhelming display of technical skill and military force,” Trump told Republican lawmakers earlier Monday. At the press conference...