US President Donald Trump claimed during a virtual G7 briefing on March 11 that Iran was “about to give up” two weeks after the US-Israeli campaign ‘Operation Epic Fury’ launched on February 28. According to sources, he boasted about eliminating threats, saying there was “almost nothing left” to target and that the conflict could “end whenever I want”—all amid the leadership vacuum created by the assassination of Ali Khamenei. That optimism clashed with a challenging March 12 statement from Iran’s new supreme leader Mojtaba Khamenei—read by a state TV anchor because he has not appeared in public amid speculation he was injured. Vowing “full-scale revenge is our priority”, he described the ongoing retaliation as a “prologue” to the bloodshed of martyrs, including civilians (death toll >1,300). Khamenei ordered a continued blockade of the Strait of Hormuz to make enemies repent, demanded regional countries close US bases, and slammed US security pledges as “lies”.
As the war enters its 14th day, Iran has turned to economic pressure, laying mines and attacking ships on the vital Gulf route (20% of global oil flows). Brent crude oil prices peaked above $100/barrel on March 13, with the IEA warning of the largest supply crisis ever—with prices rising volatilely to $115+ amid shipping halts.
Ground reality refutes surrender claims: Iran fired missiles at northern Israel early Friday, which landed in a residential area. Khamenei hinted at opening up “new fronts” by targeting the weaknesses of Western countries. Although Trump is hoping for a quick resolution, continued attacks, the energy crisis and Tehran’s determination to resolve the situation suggest a longer-lasting conflict, and global markets are bracing for even more disruptions.
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