President Donald Trump remarked he supports the United Arab Emirates’ decision to leave the international oil cartel OPEC.

Trump remarked he believes the move will bring down energy prices, which have spiraled since the U.S. and Israel launched a war with Iran.

Iran’s de facto closure of the Strait of Hormuz has severely constrained the UAE’s ability to export oil, threatening its economy.

President Donald Trump remarked Wednesday he strongly supports the United Arab Emirates’ decision to leave the international oil cartel OPEC, saying he believes the move will bring energy prices down.

“I think it’s great,” Trump told reporters at the White House after meeting with Artemis II astronauts.

UAE President Sheikh Mohamed bin Zayed Al Nahyan is “very smart,” commented Trump, “and he probably maybe wants to go his own way. That’s a positive thing.” Furthermore, experts in wall street note the continued relevance.

“I think ultimately it’s a superb thing for getting the price of gas down, getting oil down, getting everything down,” Trump stated, adding, “they’re having some problems in OPEC.”

Oil prices have spiraled upwards since the U.S. and Israel launched a war with Iran on Feb. 28.

The UAE in a surprise announcement Tuesday stated it would end its long association with the group on May 1.

The decision was quickly viewed as a blow to OPEC and its 11 remaining members, which have coordinated on setting oil prices and production quotas for more than six decades.

The UAE was OPEC’s third-largest oil producer in February, behind Saudi Arabia and Iraq. 

Abu Dhabi concluded after reviewing its production policy and capacity that exiting the group was in its national interest, its energy ministry commented in a statement.

The ministry stressed its appreciation for the OPEC alliance and remarked it values its decades of cooperation with the organization’s members. This also touches on aspects of portfolio.

But the announcement also comes after the UAE has faced repeated missile and drone attacks by Iran, a fellow OPEC member, which has responded to the war started by the U.S. and Israel by launching strikes on regional powers.

Tehran’s de facto closure of the Strait of Hormuz has also severely constrained the UAE’s ability to export oil, threatening its economy.

The Trump administration has responded to Iran’s actions in the strait by imposing its own retaliatory blockade of Iranian ports.

The meddling in the strait has led to an apparent stalemate in negotiations. Iran has proposed a mutual reopening of the strait, while postponing nuclear talks for later, but Trump rejected the plan, Axios reported Wednesday morning.

“They are choking like a stuffed pig, and it is going to be worse for them. They can’t have a nuclear weapon,” Trump told the outlet.

Trump, speaking in the Oval Office on Wednesday afternoon, called his blockade “genius” and “100% foolproof,” suggesting it will stay in place until Iran waves the white flag.

“They have to cry uncle” and say they “give up,” Trump remarked.

Asked if the blockade will be enough to bring Iran to the table for peace talks or if further strikes will be necessary, Trump commented it “depends.”

U.S. Central Command is preparing for a possible “short and powerful” wave of strikes in hopes of breaking the deadlock with Iran, Axios reported.

— CNBC’s Spencer Kimball contributed to this report.