ERBIL, Kurdistan Region of Iraq – US President Donald Trump on Wednesday said the war with Iran is “close to over,” claiming it would take Tehran 20 years to rebuild following damage sustained during the conflict.

Speaking to Fox News, Trump said, “I think it’s close to over, yeah, I mean I view it as very close to over.”

“If I pull up stakes right now, it will take them 20 years to rebuild that country,” he added. “We are not finished. We will see what happens. I think they want to make a deal very badly.”

Trump’s remarks come amid a two-week ceasefire announced earlier this month that led to a near-complete halt of military activity following a conflict that began in late February.

The first round of talks aimed at ending the war, following the ceasefire announcement, did not lead to a comprehensive agreement. Washington has accused Tehran of being unwilling to give up its nuclear ambitions, while Iran cited US “excessive demands” and a lack of political will for the failure to reach a deal.

Another key issue remains the Strait of Hormuz, where the US has imposed a blockade and is attempting to remove purported sea mines, while the Islamic Revolutionary Guard Corps (IRGC) said vessels approaching the waterway “will be dealt with severely.”

Trump told The New York Post a new round of talks with Tehran could take place in Pakistan "over the next two days," after saying the day before that unnamed Iranian officials had called him seeking a deal.

Pakistan has also proposed to host a new round of talks between the US and Iran in Islamabad in the “coming days, before the end of the ceasefire,” the Associated Press reported on Tuesday, citing two Pakistani officials.

Iranian government spokesperson Fatima Mohajerani, in an interview with Russian state media on Tuesday, revealed that Iran has sustained $270 billion in damages since the start of the war. She further asserted that reparations are a key point on the negotiating team’s agenda in Islamabad.

In addition, Iran’s Ambassador to the UN Amir Saeid Iravani on Tuesday demanded compensation from five regional countries “for their participation in the US-Israeli war against Iran.” The countries included Bahrain, Saudi Arabia, Qatar, the UAE, and Jordan.