U.S. President Donald Trump said that Washington intends to scale back its activity regarding Iran and is counting on economic pressure to force Tehran to make concessions. The American leader said this in a phone interview with Axios journalist Barak Ravid.

“We are only having partial talks with them. We are simply watching Iran, where there is huge inflation and no money,” Trump said.

According to the U.S. president, the Iranian economy is in “very bad shape,” and the country’s authorities do not have enough funds to pay the military. Trump also said that the U.S. naval blockade is increasing economic pressure on Tehran.

The American leader noted that oil prices have fallen to just over $75 a barrel, which, he said, reduces the impact of the conflict on American consumers.

“Everything will work out. It always does. It’s like a chess game,” Trump said.

According to Ravid, during the conversation Trump did not voice any new threats to resume large-scale military action against Iran.

The U.S. president also did not express clear dissatisfaction with Tehran’s delay in concluding an agreement with Oman on opening the Strait of Hormuz.