Yasin Gungor
29 July 2026•Update: 29 July 2026
US President Donald Trump expressed concern about the severe repercussions of the Middle East war on global financial systems during his meeting with Israeli Prime Minister Benjamin Netanyahu in the Oval Office, Axios reported Wednesday.
The US president, according to an Israeli official speaking to the news wire, reportedly emphasized that hostilities and high energy prices threaten international trade.
Netanyahu responded by asserting that Tehran is using its influence over the Strait of Hormuz as its final remaining lever to extract concessions from Washington.
Although the prime minister acknowledged the US president’s fears of a worldwide economic downturn, he urged a continued maritime blockade to intensify the financial squeeze on Tehran, according to the report.
Netanyahu had deep skepticism about the possibility of a final agreement with Tehran, despite diplomatic efforts.
The Israeli official said the leaders "candidly" reviewed three specific strategies Washington is considering: finalizing a diplomatic deal, maintaining the naval blockade with increased economic pressure, or resuming high-intensity military strikes.
Netanyahu informed Trump and US leadership of his intent to phase out US military aid to Israel, reducing it to zero within a decade. The prime minister reportedly seeks a formal memorandum to establish the transition, citing a desire to avoid dependence on the "goodwill" of a US Congress where he perceives shifting political winds toward military assistance.
The meeting Tuesday was the first face-to-face encounter between the two leaders since the war with Iran began Feb. 28.
The visit occurred amid public friction between the two leaders. Trump recently criticized the prime minister for publicly voicing concerns about Iran’s nuclear facilities instead of discussing them privately. He also dismissed Netanyahu’s opposition to US fighter jet sales to Türkiye, asserting that no one would dictate American arms exports.
Despite the disagreements, Trump said Monday that the two are “pretty close” on the Iranian issue, while acknowledging a “little difference” in approaches.
