Trump: Iran Campaign Nearing Completion — Live Updates

President Trump delivered a prime-time address updating the nation on U.S. operations against Iran, saying the campaign’s “core strategic objectives are nearing completion” and reiterating a two-to-three-week timeline to conclude major operations. He said U.S. forces have degraded Iran’s missile, drone and naval capabilities, accused Tehran of approaching a nuclear weapons capability — a claim at odds with U.S. intelligence assessments last year that found no active weapons program — and warned that, absent an agreement, the U.S. would strike Iran’s electric-generating infrastructure “very hard and probably simultaneously.” He added that the military will “hit Iran extremely hard” in the coming weeks and threatened attacks on the oil sector and other critical infrastructure to prevent Iran from obtaining a nuclear weapon.

Trump urged countries that depend on shipping through the Strait of Hormuz to take steps to reopen the waterway and “grab it and cherish it,” suggesting in the interim they should purchase U.S. oil. He also asserted Iran had “just asked the United States of America for a CEASEFIRE,” a claim Tehran’s foreign ministry denied. The president blamed higher U.S. gasoline prices on Iranian strikes on commercial tankers and regional targets and framed recent operations as “swift, decisive, overwhelming victories on the battlefield.”

Markets and energy

Markets reacted quickly to the address. U.S. stock futures slipped in the two hours after the speech, with Dow futures down roughly 1% and S&P 500 futures off about 1.1%, reversing earlier gains tied to hopes the conflict might soon end. Crude oil also jumped: West Texas Intermediate moved from around $98 per barrel to near $104 by late evening, while Brent rose from just under $100 to about $106. Volatility has increased as investors reassess the war’s direction and the risk to global shipping through the Strait of Hormuz.

Military and operational updates

- U.S. Central Command reported a large number of strikes and operations, saying more than 155 Iranian vessels have been damaged or destroyed, thousands of targets struck, and roughly 13,000 combat flights conducted by U.S. forces.

- U.S. officials reported two more MQ-9 Reaper drones lost near Isfahan, bringing claimed Reaper losses in the campaign to 16; Iranian state outlets and the Islamic Revolutionary Guard Corps have also claimed to have downed U.S. drones.

- Israeli forces said they carried out a “wide-scale wave of strikes” targeting infrastructure in Tehran; Iranian state media reported blasts in multiple districts. An early-morning strike appeared to hit inside the former U.S. Embassy compound in Tehran, which is now controlled by Iranian security services.

- Iran announced fresh waves of missile and drone attacks directed at U.S. and Israeli targets in the Gulf. The United Arab Emirates said its defenses intercepted multiple ballistic missiles and drones and reported hundreds of intercepts since the campaign began, along with casualties from some strikes. Iran-backed Houthi forces in Yemen claimed missile barrages at Israel, and incidents have been reported across the Gulf region, including a tanker near Qatar struck by projectiles.

Regional security and shipping

The Strait of Hormuz remains a central flashpoint. The president set an April 6 deadline for Iran to reopen the strait to all shipping or face further U.S. strikes. The U.K. said it will host a virtual summit to discuss reopening the waterway and will convene defense leaders to plan post-conflict measures; British officials said 35 countries signed a statement committing to cooperate on restoring maritime security. Russia warned that any new arrangements to regulate shipping through the strait should include Iran.

Diplomacy and allies

- Mr. Trump criticized NATO for not joining the U.S. campaign in Iran and said he is considering whether the U.S. should remain in the alliance, prompting pushback from several European leaders who stressed NATO’s role and warned against unilateral withdrawal. A U.S. law passed in 2023 would require congressional approval to terminate membership.

- A NATO delegation and senior alliance officials are scheduled to meet with White House leaders next week for talks as the administration signals it will “reexamine” the U.S. relationship with NATO based on allies’ responses to the Iran campaign.

- Iran’s President Masoud Pezeshkian sent a letter to the American public asserting that Iran is not a threat while warning of consequences for strikes on Iranian infrastructure; he also told an EU official that Iran has the “necessary will” to end hostilities if offered security guarantees.

Civilian and economic fallout

- The conflict has pushed energy and transport costs higher and affected corporate decisions. Air France-KLM raised fuel surcharges on long-haul tickets, and Unilever announced a temporary hiring freeze as businesses face uncertainty and rising input costs. Economists warn that if the Strait of Hormuz remains closed, crude prices could spike far higher — some analysts have modeled scenarios in which prices reach $150 to $200 per barrel.

- The State Department warned Iranians and Americans in Kuwait that Iran and its proxies “may intend to target universities,” urging people to shelter in place after a drone strike earlier in the conflict that killed U.S. service members at a facility in Kuwait.

Threats beyond the battlefield

The IRGC has named about 18 U.S. technology and finance firms in the Middle East as potential targets, warning employees and nearby residents to evacuate. The IRGC characterized such companies as facilitating U.S. operations and suggested its list of legitimate targets could expand.

Casualties and local effects

Regional reports describe injuries and property damage from missile and drone strikes: Israeli emergency services reported multiple wounded in missile attacks, including a critically injured child; Gulf states reported damage to ports, oil and shipping facilities, and vessels, with fires extinguished in some cases and investigations continuing. Social and economic disruption persists across affected countries.

Assessments and outlook

U.S. officials and the president portray recent operations as meeting or exceeding military benchmarks: degrading ballistic missile and production capabilities, reducing naval threats, and setting back nuclear-related programs. Iran’s leadership continues to say it will negotiate only with security guarantees and has downplayed the likelihood of a U.S. ground invasion. Whether the conflict moves toward a negotiated settlement or a unilateral wind-down will depend on Iran’s willingness to reopen the Strait of Hormuz, accept terms sought by the U.S., and on allied diplomacy. Markets, shippers and suppliers are likely to react quickly to developments and statements from Tehran, Washington and key partners.

This summary is based on updated statements from the White House, U.S. Central Command, allied governments, regional authorities and media reports through the evening of April 1, 2026.