Trump Says US-Iran Reconciliation Aims to Avoid Global Economic Recession

June 19: During a June 18 interview with U.S. news outlet Axios, President Donald Trump stated that he negotiated a memorandum of understanding (MoU) between the U.S. and Iran to avoid the conflict from escalating into a global economic recession. Trump also claimed the U.S. had "totally defeated Iran militarily"—a move he said demonstrated America’s military capabilities. "Who else could pull off a blockade like that? I had all our boats fully manned, and they couldn’t get through," he told Axios. The president expressed frustration with domestic critics who question his tough stance on Iran. He warned that continued bombing of Iranian targets would render the Strait of Hormuz unnavigable, adding, "We won’t get oil for a long time. As long as you keep doing that, the Strait will automatically be closed to anyone coming in or out... The world thinks they’ll get oil as if nothing will happen." Citing sources familiar with his internal thinking, Axios reported that Trump had privately raised concerns about depleting global oil reserves and the risk of a global oil crisis if the Strait of Hormuz remains blocked.