Trump extends Iran ceasefire, banks on economic collapse

US President Donald Trump has extended an indefinite ceasefire in his administration's military offensive against Iran, shifting to a strategy focused on economic pressure through a blockade of the Strait of Hormuz that has turned back more than 30 cargo ships while peace talks remain stalled. During an Oval Office press conference on Thursday, Trump spent 12 minutes discussing White House renovations before addressing Iran policy, dismissing questions about timelines by comparing the situation to the Vietnam War (18 years), Iraq, and the Korean War, saying "I've been doing this for six weeks." The President warned he would finish the conflict militarily if Iran refuses to negotiate, though he insisted he is not under time pressure, claiming instead that Tehran faces urgent economic collapse as its oil storage facilities reach capacity. The core of Trump's strategy involves choking off Iranian oil exports through naval control of the Strait of Hormuz and escalating international sanctions, with the US Navy ordered to fire on any vessel placing naval mines. According to tanker monitoring company TankerTrackers, Iran has brought the NASHA, a very large crude carrier, out of retirement as Kharg Island storage facilities approach overflow. The military campaign, which reportedly destroyed 78 percent of Iranian military targets, has resulted in no American casualties, and financial markets have largely recovered with the Dow Jones trading above 49,000. However, Senator Roger Wicker, chairman of the Senate Armed Services Committee, has called on Trump to resume bombing, arguing negotiations with Iran's regime will never succeed. Diplomatic efforts remain in disarray, with Trump's envoys Steve Witkoff and Jared Kushner returning to Islamabad despite no confirmed meeting with Iranian officials. Experts are skeptical of Washington's position, with Kristina Kausch of the German Marshall Fund telling Spanish news agency Europa Press that Trump appears to be the party most eager to end the conflict and that claims of divisions within Iran's leadership lack evidence. The new Supreme Leader Mojtaba Khamenei has not appeared publicly for over a month. Meanwhile, the nuclear question, which triggered US withdrawal from the 2015 Joint Comprehensive Plan of Action, has taken a backseat due to its technical complexity, with any potential deal requiring significant sanctions relief that would necessitate difficult negotiations with Israel ahead of US midterm elections.