President Donald Trump officially notified Congress on Friday that hostilities between the United States and Iran have "terminated," a move intended to bypass the 60-day deadline imposed by the 1973 War Powers Act. The declaration follows the February 28 initiation of joint U.S. and Israeli strikes against Iran, which triggered a legal requirement for congressional authorization that the administration has sought to avoid since the conflict began.
In a letter to lawmakers, Trump asserted that the conflict effectively ended on April 7, 2026, the date a ceasefire was established. While the President insisted the war is over, he did not commit to withdrawing U.S. troops from the Middle East. "There has been no exchange of fire between United States forces and Iran since April 7, 2026," Trump wrote, while also suggesting to reporters that the War Powers Act itself might be unconstitutional.
Despite the formal declaration, the diplomatic path remains fraught. Trump told reporters on Friday that he is "not satisfied" with a new peace proposal delivered by Iranian officials via Pakistani mediators. "They’re asking for things I can’t agree to," Trump stated, noting that he would prefer to avoid a military escalation, adding, "Do we want to go and just blast the hell out of them and finish them forever -- or do we want to try and make a deal?"
Economic volatility remains high due to the ongoing closure of the Strait of Hormuz, which handles one-fifth of the world’s oil and liquefied natural gas. Major U.S. oil firms, including Exxon Mobil, Chevron, and ConocoPhillips, warned this week that the world is nearing a critical exhaustion point for commercial and strategic crude reserves. Chevron CFO Eimear Bonner stated on Friday that "much of the inventory and spare capacity has already been exhausted," leaving very little reserve to mitigate price spikes.
While oil prices have climbed more than 50 percent since the start of the blockade, hovering near $102 per barrel, energy executives cautioned that the full impact of the supply disruption has yet to be realized. In tandem with the diplomatic deadlock, the U.S. Treasury Department announced new sanctions targeting Iranian exchange houses, including Opal Exchange, Radin Exchange, and Arz Iran Exchange. Treasury Secretary Scott Bessent described the move as part of an "Economic Fury" campaign to sever the Iranian military’s financial lifelines.
The administration’s aggressive foreign policy also expanded to the Caribbean on Friday, when Trump signed an executive order imposing new sanctions on Cuba. The White House labeled the island an "unusual and extraordinary threat" and a "safe haven" for groups like Hamas and Hezbollah, though the statement provided no evidence for these claims. Cuban Foreign Minister Bruno Rodriguez rejected the measures as "unilateral coercive measures" and "collective punishment," asserting that the U.S. has no right to impose sanctions against third-party entities.
As the administration shifts its focus, the situation on the ground remains volatile. Despite local ceasefires, regional fighting persists; Lebanese health officials reported 12 deaths in recent Israeli strikes, even as the White House approved nearly $5 billion in new arms sales to Israel and Qatar. Trump suggested to reporters that his skepticism regarding the Iranian proposal stems from "tremendous discord" within Tehran's leadership, leaving the future of the ceasefire in a precarious state.
