Trump Signals More Economic Pressure on Iran, Says He Is Watching Cash-Strapped Tehran

President Donald Trump signaled he would maintain economic pressure on Iran rather than launch additional military strikes, despite hard-line demands from Tehran. He likened negotiations with Iran to a chess game and indicated he would wait and see for now.

Axios reported on August 9 that Trump made the remarks in a phone call. Discussing Iran, he said, "We're handling it low-key."

"We're only partly negotiating with them," Trump said, suggesting talks have not been completely cut off but have not reached the point of a full agreement.

He also pointed to Iran's economic troubles. "We're just watching Iran, which is suffering from massive inflation and has no money," Trump said, adding that the country is in "a very difficult situation."

Trump also said Iran lacks the funds to pay its soldiers. He argued that the U.S. maritime blockade on Iran has deepened the regime's economic crisis.

He also touched on oil prices. Axios reported that Trump said U.S. consumers are feeling less of the war's burden as crude has fallen to just above $75 a barrel.

"It'll work out well," Trump said of the negotiations with Iran. "It always does. It's like a chess game."

Axios said Trump did not issue any new military threats toward Iran during the call. It also reported that he showed no anger or frustration over Iran's delay in announcing an agreement with Oman to reopen the Strait of Hormuz.

Axios reported that although Iran continues to reject U.S. demands, Trump suggested he is prepared to step up economic pressure rather than order fresh military attacks.

Trump previously said he canceled a large-scale attack on Iran on the night of August 1 at the request of Middle Eastern countries. He also urged a swift agreement to reopen the Strait of Hormuz. Speculation later emerged that talks between Iran and Oman were nearing a deal, but the outlook became uncertain again after Iran presented new demands to the U.S.

Mohammad Bagher Zolghadr, secretary of Iran's Supreme National Security Council, issued a statement the previous day setting out six demands for reopening the Strait of Hormuz. They included lifting the U.S. maritime blockade on Iran, withdrawing troops from areas around Iran and compensation for war damage. The demands were tougher than the ceasefire memorandum of understanding previously agreed by the U.S. and Iran.

Lee Song-ryeol, Hankyung.com reporter yisr0203@hankyung.com