U.S. President Donald Trump said a prolonged military campaign against Iran would have failed to achieve the key objective of reopening the Strait of Hormuz and risked triggering severe economic consequences.
In an interview with Axios, Trump argued that using military force to extract additional concessions from Tehran would have been counterproductive.
"The only way I can get tougher is if I go in there for another two or three weeks and continue to bomb the hell out of 'em. Right? But what does that get us? The Strait of Hormuz will not be open," Trump said.
"We wouldn't have oil for months," he said. "This is the kind of thing that could cause a worldwide depression."
The comments came after U.S. forces on Thursday lifted a naval blockade of Iranian ports that had prevented vessels from sailing to or from the Islamic Republic, according to the U.S. military. It said American warships would remain in the area.
Shipping activity remained limited in the Strait of Hormuz, a critical route for global energy exports that Iran blockaded during the conflict.
Three Saudi oil tankers transited the waterway and exited the Gulf on Thursday, maritime tracking data showed. A French vessel carrying liquefied natural gas also passed through the strait.
Iranian state television, citing a statement from the country's Supreme National Security Council, said vessels seeking passage through the Strait of Hormuz would be required to submit requests to a newly established government body responsible for overseeing the waterway.
The broadcaster said that, under the terms of the agreement, "no fees whatsoever will be collected from applicants for a period of sixty days".
