Trump Floats Seizure of Iranian Oil as War ‘Option’

​WASHINGTON — President Donald Trump signaled a potential escalation in the month-long conflict with Tehran on Thursday, stating that taking control of Iran’s vast oil reserves remains a viable “option” for the United States.

​Speaking to reporters during his first Cabinet meeting since the outbreak of hostilities on February 28, the President drew a direct parallel to recent U.S. actions in South America. “It’s an option,” Trump said when asked if he intended to seize the energy assets. “We’ve done very well with Venezuela’s reserves.”

​The remarks follow the U.S.-led ousting of Nicolás Maduro in January 2026, after which Washington brokered deals allowing American entities to manage and invest in Venezuela’s state-owned oil company, PdVSA. Trump claimed the U.S. has already seen “billions and billions of dollars” in returns from that intervention.

​Negotiations Amidst Strikes

​Despite the aggressive rhetoric, the President claimed that the war—which he described as being “ahead of schedule”—might be nearing a diplomatic inflection point. He suggested that Iranian officials are “begging” for a deal, citing the recent release of eight oil tankers in the Strait of Hormuz as a “good faith” gesture from Tehran.

​”They are lousy fighters, but they’re great negotiators,” Trump said, flanked by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth.

​However, the path to peace remains volatile. While Trump announced a 10-day pause on planned strikes against Iranian power plants to allow for talks, he warned that the mission to “obliterate” those facilities would resume on April 6 if no agreement is reached.

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​Market Jitters

​The President’s comments sent ripples through global markets. Oil prices, which have seen extreme volatility since the U.S. and Israel began “Operation Epic Fury,” surged briefly following the mention of oil seizure before stabilizing after the announcement of the 10-day strike pause.

​International observers remain wary. While the administration points to a 15-point peace proposal floated by envoy Steve Witkoff, Iranian leadership has yet to publicly confirm direct negotiations, even as indirect talks reportedly continue through Pakistani and Omani mediators.