Trump Says No Deal With Iran Except 'Unconditional Surrender' As Middle East War Enters 7th Day

• Trump indicated that Cuba may be next on the administration’s agenda, according to an interview with CNN.
• The U.S. President added that the Cuban government is eager to reach a deal with Washington.
• Oil prices are on track for their biggest weekly gain in nearly six years.

As the war in the Middle East entered its 7th day, U.S. President Donald Trump announced on Friday that there would be no deal with Iran except for its “unconditional surrender”.

In a Truth Social post, Trump said that if Iran surrenders and a “great and acceptable” leader is chosen, the U.S. and its allies would help rebuild its economy.

“There will be no deal with Iran except unconditional surrender! After that, and the selection of a GREAT & ACCEPTABLE Leader(s), we, and many of our wonderful and very brave allies and partners, will work tirelessly to bring Iran back from the brink of destruction, making it economically bigger, better, and stronger than ever before. IRAN WILL HAVE A GREAT FUTURE,” Trump said.

The war has led to chaos in the region, with multiple countries hit by long-range missiles. Energy prices have also shot up due to the bottleneck at the Strait of Hormuz, a shipping lane that transports around 20% of global oil shipments. 

At the time of writing, Brent oil futures traded more than 6% higher to $91 a barrel, and are on track for their biggest weekly gain in nearly six years.

Focus Shifts To Cuba

Trump indicated that Cuba may be next on the administration’s agenda once the conflict with Iran is resolved. In an interview with CNN on Friday, Trump said, “Cuba is going to fall pretty soon,” claiming that the Cuban government is eager to reach a deal with Washington.

Speaking a day earlier at the White House, the U.S. President said it is “only a question of time” before Cuban Americans can return to their homeland, suggesting possible future policy changes.

Earlier this year, Trump had expressed interest in taking control of Greenland due to its rich rare-earth resources, leading to disagreements with multiple European leaders. This happened shortly after a U.S. military strike in Venezuela that led to the capture of President Nicolás Maduro.

Markets traded lower on Friday with SPDR S&P 500 ETF Trust (SPY), SPDR Dow Jones Industrial Average ETF (DIA) and the Invesco QQQ Trust Series 1 (QQQ) down around 1% each. 

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