WASHINGTON—President Donald Trump explained the reasons for the country’s war with Iran and said that the United States is “nearing completion” of the objectives set at the start of the military operation, during a primetime address on April 1.

“Thanks to the progress we’ve made, I can say tonight that we are on track to complete all of America’s military objectives shortly, very shortly,” Trump said.

“We’re going to hit them extremely hard over the next two to three weeks. We’re going to bring them back to the stone ages, where they belong,” he added.

Trump noted that negotiations with Iran are ongoing. He also reiterated that “regime change has occurred” since the U.S.–Israeli joint strikes eliminated “all of their original leaders.”

“They’re all dead. The new group is less radical and much more reasonable,” he said.

However, he warned that if no agreement is reached, the next strikes will target Iran’s power plants and oil facilities.

The speech, which aired at 9 p.m. ET, came at a critical time as the conflict in the Middle East has entered its second month.

During his nearly 20-minute address, Trump mentioned no plans for a potential ground troop invasion.

Trump outlined the operation’s objectives: to eliminate Iran’s navy, destroy its air force and missile program, and annihilate its defense industrial base.

“We’ve done all of it,” Trump said, adding that the U.S. actions will “crush their ability to support terrorist proxies, and deny them the ability to build a nuclear bomb.”

He touted the success of the military operation.

“Never in the history of warfare has an enemy suffered such clear and devastating, large-scale losses in a matter of weeks,” he said.

The president acknowledged concerns about rising gas prices while saying that the U.S. economy was well prepared for the war.

On March 31, Trump said that U.S. forces could conclude combat operations against Iran in two or three weeks. He also said that the United States may end the conflict without addressing all Iranian threats in the Strait of Hormuz. He said that other countries should defend their own trade interests in the waterway.

“That’s not for us. That will be for France. That will be for whoever is using the strait,” he told reporters.

Investors saw his statements as a positive sign that the war is ending soon. On April 1, stocks rallied, and oil prices eased. The Dow Jones Industrial Average rose 200 points. U.S. West Texas Intermediate futures, a benchmark for North American crude oil prices, fell by 1.24 percent to settle at $100.12 per barrel.

During his address to the nation, Trump criticized countries experiencing fuel shortages, but that have chosen not to support the United States in the war.

“To those countries that can’t get fuel, ... buy oil from the United States of America—we have plenty,” Trump said.

He also urged these countries to assume control of the Strait of Hormuz, protect it, and use it for their own benefit.

“In any event, when this conflict is over, the strait will open up naturally,” Trump said. “The gas prices will rapidly come back down. Stock prices will rapidly go back up.”

Since the start of the military campaign, U.S. forces have struck more than 11,000 targets.

Hours before his address, Trump said on Truth Social that Iranian President Masoud Pezeshkian wants a cease-fire deal, but will not consider it until the standoff in the Hormuz Strait is settled.

“Iran’s New Regime President, much less Radicalized and far more intelligent than his predecessors, has just asked the United States of America for a CEASEFIRE!” Trump wrote.

“We will consider when Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!!”

Secretary of State Marco Rubio also released a video message on April 1, explaining the reasons for the country’s war with Iran.

“We were on the verge of an Iran that had so many missiles and so many drones that no one could do anything about their nuclear weapons program in the future—that was an intolerable risk,” Rubio said.

“This was our last best chance to eliminate that conventional threat, that conventional shield that they were trying to build, and the President made the right decision to wipe it out.”

Trump delivered his speech amid growing concerns about rising fuel prices at home. Iran’s threats to block the Strait of Hormuz sent shockwaves through global supply chains.

According to the American Automobile Association, the national average for a gallon of regular gasoline is now $4.06, over a dollar more expensive than it was a month ago.

During his address, Trump criticized previous U.S. presidents for not acting against Iran, specifically targeting President Barack Obama for signing a nuclear deal with Iran.

“They made mistakes, and I am correcting them,” he said. “My first preference was always the path of diplomacy. Yet the regime continued their relentless quest for nuclear weapons.”

Ryan Morgan contributed to this report.

Correction: A previous version of this article misstated Washington’s current time zone in one instance. The Epoch Times regrets the error.