US President Barack Obama speaks on the situation in Iraq on the South Lawn of the White House before his departure for vacation at Martha's Vineyard, in Washington August 9, 2014. Obama said on Saturday US airstrikes have destroyed arms and equipment that Islamic State insurgents could have used to attack Arbil, the Iraqi Kurdish capital. [Photo/Agencies]  More photos

WASHINGTON - U.S. President Barack Obama said Saturday that "we are not going to have combat troops in Iraq," admitting that most Iraqis don't want continued U.S. military presence.

In a speech delivered at the White House, Obama conceded that U. S. troop presence wouldn't have helped Iraq avoid the current situation, but would have risked more lives.

He also said the United States will have to evaluate "whether more U.S. money will be needed for Iraq."

Evaluating U.S. targeted airstrikes in north Iraq, Obama said the airstrikes against militants of Islamic State of Iraq and the Levant (ISIL) have succeeded in destroying arms and equipment that could have been used against the Kurdish capital of Erbil.

Meanwhile, humanitarian efforts continued to airdrop food and water to persecuted religious minorities stranded on a mountaintop, he said, adding that planning was underway for how to evacuate them.

Obama wouldn't give a timetable for how long the U.S. military involvement would last, saying "I don't think we are going to solve this problem in weeks ... It's going to take some months."