U.S. Secretary of State Marco Rubio has revealed that the U.S. military operations against Iran are expected to conclude in a matter of “weeks, not months,” and that the U.S. is confident in achieving its objectives without deploying ground troops.

After meeting with G7 counterparts in France, Rubio told reporters on Friday: “We are on or ahead of schedule on that operation and expect to conclude it at the appropriate time here in a matter of weeks, not months, and the progress is going very well.”

“We can achieve all of our objectives without ground troops,” Rubio said. Troop deployments, he added, are meant to give the president “maximum optionality” should contingencies emerge.

During the meeting, Rubio also discussed the potential for Iran to impose shipping tolls through the Strait of Hormuz even after the conflict ends. He suggested that G7 and Asian countries, which benefit from trade through the waterway, should contribute to securing free passage.

According to Reuters, the U.S. has deployed two contingents of Marines to the region, with the first expected by the end of March. This has fueled concerns that the conflict, which began with U.S. and Israeli airstrikes on Feb. 28, could escalate into a prolonged ground campaign.

Energy Markets Rattle

The U.S.-Iran war has escalated over the past month, with thousands of casualties and a significant disruption to global energy supplies. The war has also sparked fears of a recession due to rising energy prices.

Dow Inc. (NYSE:DOW) CEO Jim Fitterling has also warned at CERAWeek that nearly 20% of global petrochemical capacity is effectively blocked, with a 250- to 275-day supply chain recovery window even after the strait reopens.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.