Trump says Iran war will end 'very quickly', oil prices will 'come tumbling down'

Washington: US President Donald Trump on Wednesday (local time) said the war with Iran will end "very quickly" and claimed that oil prices will "come tumbling down", while asserting that the US has taken away Iran's nuclear power.

"It is a war from the standpoint of what we have to do. We have to get rid of the nuclear weapons for Iran. We have taken away their nuclear power. If they had nuclear power, you would have had problems like you have never had before," Trump told reporters while departing Washington for a San Antonio Republican campaign rally.

"Their whole country right now is wiped out. It will be over very quickly, and when it does, oil prices will come tumbling down," he added.

Meanwhile, an Iranian government spokesperson, Fatemeh Mohajerani, has rejected Trump's claims that Iran's oil minister resigned due to pressure from the US war, describing the claim as "a futile effort to hide his own failures."

While speaking to reporters yesterday, Trump had said the Iranian oil minister "just quit", claiming that the official told him, "We have no economy, we have no oil, we have nothing."

Iranian Foreign Minister Abbas Araghchi has meanwhile said that while Iran remains determined to defend itself, officials are serious about using diplomacy to secure the country's interests and national security.

In a meeting with Iranian officials, Araghchi said on Telegram that Iran's delegation to the United Nations General Assembly in New York used the visit to present a seven-day proposed peace plan to the US to reopen the Strait of Hormuz.

Meanwhile, US Vice President JD Vance earlier made clear that Tehran must carry out a "meaningful" cut in its nuclear enrichment capacity before Washington will agree to halt the seven-month war with Iran.

"If you don't want a nuclear weapon, then why do you need 60% enriched fuel?" Vance said. "If you want to show commitment to not building a nuclear weapon, don't build highly enriched fuel. That's a very basic threshold issue," he added.

"I think if they want to show a commitment to not building a nuclear weapon, they would do something meaningful on their enrichment capacity," he further said.

"As a key figure in the talks, Vance stressed that verbal pledges alone would not suffice. "We're not going to trade words for actions," he said.