Trump Boasts US Could Control Iranian Oil Like Venezuela

US President Donald Trump has made bold claims regarding Iranian oil, asserting that the US could gain control over Iran’s oil resources in a manner similar to its actions in Venezuela.

As background, the US has been involved in a conflict with Iran since 28 February. The war was triggered by US and Israeli attacks on Iran, which resulted in the death of the then-Iranian leader, Ayatollah Ali Khamenei. Iran subsequently retaliated by attacking various US military facilities in neighbouring countries and closing the Strait of Hormuz, causing global oil prices to soar.

While the conflict briefly eased through a US-Iran agreement mediated by Pakistan, hostilities have reignited following mutual accusations of violations. President Donald Trump has since stated that the peace agreement has ended.

Iran continues to maintain strict restrictions on the Strait of Hormuz, contributing to global oil price instability. Most recently, Donald Trump suggested that the US could remain in the Iranian region and ‘control its oil’, comparing this to the US takeover of control over a significant portion of Venezuela’s vast oil reserves.

According to Reuters on Monday (14/09/2026), Trump made these remarks during a visit to Ireland on Sunday (13/09) local time. Trump stated that he would only agree to a ‘proper deal’ and would not approve any ‘bad’ agreements.

He further claimed that Tehran is ‘constantly contacting’ Washington to negotiate peace, a claim that has been strongly denied by Iran. Trump also presented an alternative option of remaining engaged with Iran, comparing the idea to the deal reached between the US and Venezuela, announced last August.