Washington DC [US], July 2 (ANI): US President Donald Trump, while speaking of the Iran imbroglio on Wednesday (local time), said that the denuclearisation was going well.

Amid the repeated ceasefire talks that metamorphosed into ceaseless strikes, Trump said the US struck Iranian ships for three nights.

'As far as things are going, the denuclearization of Iran is moving along well. They've had very good meetings and we'll see. We hit them very hard for three nights as you know. But we're getting along very well, so I call it the denuclearization and it's all taking place, it's all going well,' he said.

Trump further said that stock market is setting records virtually every day as the US ensures Iran does not possess a nuclear weapon.

'The stock market is setting records virtually every day. The oil price is way down. We're down at 68, I see it hit 68 today. That's lower than when I started the, I guess you could call it an attack on Iran, so that they never have a nuclear weapon. So the oil price is now lower, the retail prices, the gasoline is coming down rapidly,' he said.

Trump added, 'I think they've come a long way. We hit them very hard last week. I think they're fine. I think we're going to, it's the denuclearization of Iran, it's very simple. And Iran cannot have a nuclear weapon, otherwise all of this stuff that we look at, all of these things that we do, the country's never had activity like it's got right now.'

Meanwhile, Iran's Deputy Foreign Minister for Legal and International Affairs Kazem Gharibabadi on Thursday strongly criticised the US-led regional security summit in Bahrain, rejecting Western attempts to allegedly dictate security frameworks in the Persian Gulf and the strategic Strait of Hormuz.

In a post on X, Gharibabadi dismissed both the legitimacy of the military summit and the authority of the American command structure in the region, asserting that 'Hormuz is defined under Iran's command, not CENTCOM.' He maintained that a military summit in Bahrain cannot establish 'legal order and security for the Persian Gulf'. (ANI)