Six weeks into a war that much of the world said would spiral out of control, President Trump declared the situation with Iran is nearing conclusion.

“We’ve beaten them militarily, totally,” he told Fox Business Network on Wednesday. “I think it’s close to over. I view it as very close to over.”

Current developments indicate Trump’s assertion may be more than rhetoric. The U.S. naval blockade of the Strait of Hormuz has been fully implemented and is holding without exception. Iran cannot move a single ship, and all ten ships that were diverted have not broken through.

During his interview on Fox Business, Trump detailed his strategy: “If I pulled up stakes right now, it would take them 20 years to rebuild that country. And we’re not finished.” He warned that without intervention, “Iran would have a nuclear weapon” and that “you’d be calling everybody over there ‘sir.’”

Trump also predicted that once the conflict concludes, gas prices would drop significantly and the stock market would experience a boom.

Recent reports indicate U.S. and Iran are working toward extending their fragile two-week ceasefire to allow for more diplomatic efforts. Trump stated that fresh negotiations in Islamabad could begin within days.

The administration has intensified pressure on China by imposing secondary sanctions on Chinese banks if Iranian money is detected flowing through their accounts, and Trump has also written a letter to Chinese President Xi Jinping demanding that Beijing cease arms transfers to Iran, though reports indicate that Xi denied such activity.