US President Donald Trump may “declare victory and leave” the West Asia conflict regardless of ground realities, former Ambassador to Iran Gaddam Dharmendra told CNBC-TV18, flagging rising uncertainty for geopolitics and energy markets.
Dharmendra said Washington’s stance has shown “inconsistency… from day one”, adding that while Trump may want an exit, “the Iranians will have a vote on how this ends”. He noted Tehran has rejected US outreach, with Foreign Minister Abbas Araghchi reiterating that no negotiations are underway.
The remarks come as Trump claims the war could end within weeks and signalled that military action may conclude even without a deal on the Strait of Hormuz, despite earlier threats to target Iran’s energy infrastructure.
From a market perspective, Probal Sen, Energy Analyst at ICICI Securities, said the shifting US position reflects an attempt to “cut losses”, warning it adds volatility rather than clarity. He pointed out that oil flows through the Strait have dropped sharply, with traffic down to nearly a tenth of usual levels and access becoming selective.
Sen added that while crude has eased to around $100 a barrel on hopes of de-escalation, supply risks persist. With buffers such as reserves and inventories likely exhausted, “April could turn out to be worse than March” unless flows recover meaningfully, he said, echoing concerns flagged by the International Energy Agency.
First Published: Apr 1, 2026 6:58 PM IS
