US President Donald Trump has announced that the United States, in a joint operation with Israel, had destroyed a significant portion of Iran's missile capabilities, Report informs via The Jerusalem Post.

The president outlined the progress of the campaign in a speech at the White House.

"They have no air force, they have no air defense, all of their airplanes are gone, their communications are gone, missiles are gone, launchers are gone - about 60% and 64%, respectively," he continued.

The operation is "continuing to "totally demolish the enemy, far ahead of schedule and at levels that people have never seen before," the president stated, noting that the US and Israel have dealt with the "horror of this group [Iran's regime]" for 47 years.

Tehran was reaching out to the United States about making a deal amid US and Israeli strikes on Iran, adding that further action to reduce pressure on oil was imminent.

"They're calling, they're saying 'how do we make a deal?' I said you're being a little bit late," Trump said.

Trump also stated that his administration has taken efforts to stabilize oil prices amid concerns that Iran will close the Strait of Hormuz.