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In an interview published on Monday, November 2, 2026, President Donald Trump said the United States is using economic pressure, rather than an immediate return to fighting, to force Iran toward a deal, telling Israel's Channel 12 that talks are progressing even as he questioned who is making decisions in Tehran.
"We are paralyzing their economy," Trump said, according to the report by Barak Ravid for N12. "They have no money, they have no fuel, and their people are very tired of the situation." He added that Iran wants a deal more than at any point since the war began, but said its leaders have not shown the urgency he expected.
Trump said he is in no hurry to decide whether to resume military action. "One way or the other, we will do something, but there is no rush," he said, in remarks also reported by Axios. "We crippled them financially. They have no money, no gasoline and their people are getting very tired of it."
The talks are being mediated by Qatar, according to Channel 12. Trump said the process is moving forward, but added: "The problem is that we are not sure who is making the decisions, and we don't want them to try to string us along once again."
Channel 12 reported that Trump's advisers are split over what to do next. Some, along with most Gulf leaders, favour a negotiated deal, arguing another round of strikes would change little. Others want the war resumed to complete its military objectives. A third group, led by Treasury Secretary Scott Bessent, urges keeping the naval blockade and sanctions in place and waiting weeks or months. The channel said Trump has not made a final decision and wants the negotiations to run their course.
Over the weekend, Trump warned that Iran would either make a deal or the United States would end it, adding that "at some point, we're going to have to give them the hammer." Axios reported that Trump spoke by phone with Israeli Prime Minister Benjamin Netanyahu on Saturday, and that Netanyahu urged Trump to strike after the U.S. midterm elections on November 3.
The United States currently maintains a naval blockade and economic sanctions on Iran. The war began in February 2026 with U.S.-Israeli strikes. The White House has said the United States will not attack Iran before the November 3 midterms, while the blockade remains in full force.
Figures cited in a Treasury Department report on the sanctions campaign, reported by Axios, put the pressure in numbers: the rial has lost about a quarter of its value since late August and hit a record of about 2.687 million to the dollar in October, annual inflation reached 90 percent in September, and no Iranian oil has been loaded onto a tanker since August 25. The report does not say the regime is near collapse.
Iran, for its part, has condemned U.S. sanctions as economic warfare, and critics warn that pressure can worsen hardship for ordinary Iranians without guaranteeing a diplomatic breakthrough. Iranian Foreign Minister Abbas Araghchi has said Iran's conditions for reopening the Strait of Hormuz are feasible if the United States shows goodwill, with Tehran seeking sanctions relief, the release of frozen funds and the restoration of oil waivers.
No final decision on resuming strikes, and no signed deal, has been announced. For now, the administration's stated course is to let the economic pressure run while talks, mediated by Qatar, continue.