US Secretary of State Marco Rubio said on 11 November that economic pressure on Iran had grown so severe that President Donald Trump saw no immediate need for major combat operations — while making clear that Washington retained the capability and will to respond militarily if Tehran chose to escalate. Rubio made the remarks to reporters following a G-7 meeting that also drew representatives from Saudi Arabia, Brazil, Egypt, and South Korea.

Economic Campaign Over Combat Operations

Rubio described a combination of a blockade and sweeping sanctions as steadily squeezing Iran's oil revenues. He pushed back firmly against characterisations of the situation as a stalemate, arguing that the economic damage would only deepen with time.

'What I'm saying to you is that the economic campaign is so devastating that right now there really is no need for major combat operations,' Rubio said, adding that he had conveyed this assessment to US partners at the meeting.

Iran's Oil Revenues Running Dry

Rubio said Iran was nearing the exhaustion of oil supplies already at sea — shipments that had passed through during a temporary ceasefire when the blockade was suspended. Once those inventories were depleted, he argued, almost all Iranian oil revenue would effectively cease.

'Once that dries up, almost all of their oil revenue will dry up,' he said. Treasury Secretary Scott Bessent and US intelligence agencies were, he noted, actively working to close the remaining routes used to evade sanctions. The revenue contraction, Rubio argued, would limit Iran's capacity to fund its nuclear programme and armed partners. The transcript provided no independent figures to substantiate his assessment of the economic damage.

Military Warning and Civilian Infrastructure Threat

Rubio did not rule out military action, issuing a pointed warning when asked about the possibility of Iranian strikes on civilian infrastructure. 'If they do that, then they'll pay a terrible price,' he said. The statement signals that Washington's restraint is conditional rather than categorical, and that any Iranian escalation targeting civilian targets would trigger a sharp US response.

Negotiations Remain Open, but Iran's Terms Called 'Unrealistic'

Rubio maintained that Washington remained open to a diplomatic settlement. Qatar and other countries were continuing mediation efforts, he noted, adding that the Qatari prime minister had met President Trump in Washington the previous day. However, he described Iran's negotiating conditions as unrealistic, saying the US would reject demands for reparations and cash payments. He maintained that Iran could pursue a civilian nuclear energy programme on terms comparable to other nations.

'If there's a deal to be done, the President will be the first one to be in favour of it, but it's not going to be a stupid deal,' Rubio said.

Strait of Hormuz and Regional Stability

Rubio disputed suggestions that Gulf economies were being devastated, saying oil shipments continued despite Iranian drone attacks on commercial vessels. He said flows on some nights were reaching 80 to 85 per cent of pre-conflict levels, attributing the remaining shortfall to the disruption of Iranian exports. He called on other nations to help protect shipping through the Strait of Hormuz, acknowledging that he had received no response from G-7 counterparts on this — though he noted such commitments would likely require decisions at the heads-of-government level.

Separately, Rubio rejected any linkage between Lebanon's future and the broader negotiations with Tehran. Washington, he said, was mediating directly between Lebanon and Israel, and was working on a verification system for Israeli withdrawals and Lebanese armed forces deployments.