“The blockade has been incredible,” he said. “It’s held. They’re not doing any business. They’re unable to do any business because of the blockade.”

The president appeared confident that an end to the war would come soon. “I think we’re very close to making a deal with Iran,” he said.

“And if that happens, oil goes way down, prices go way down, inflation goes way down,” he added. “And you’re going to have, much more importantly than even that, you won’t have nuclear holocaust.”

Trump also said Iran had agreed to no longer work toward obtaining a nuclear weapon, a major sticking point for the administration: “Iran’s agreed to that, and they’ve agreed to it, very powerfully,” he said. Tehran, however, has not publicly committed to abandoning its nuclear program.

“We have a very good relationship with Iran right now, as hard as it is to believe,” Trump said on Thursday. “And I think it’s a combination of about four weeks of bombing and a very powerful blockade.”

The first round of peace talks, led by Vice President JD Vance in Islamabad, Pakistan, this past weekend, failed to produce a long-term end to the war.

White House press secretary Karoline Leavitt told reporters on Wednesday that a second round of negotiations will likely also take place in Islamabad, praising Pakistan as a crucial partner in the negotiations.

THE TRUMP ADMINISTRATION’S TAX DAY STRATEGY OVERSHADOWED BY IRAN WAR

Trump on Thursday also announced a 10-day ceasefire between Israel and Lebanon. The deal, according to Trump, also includes the terrorist organization Hezbollah, which operates in Lebanon. Iran has pushed for Israel to stop bombing Hezbollah as part of the conditions for ending its war with the U.S.