Political News
Trump says he wants to take Iran's oil
By Michele Maatouk
Date: Monday 30 Mar 2026
(Sharecast News) - Donald Trump has claimed he wants to take control of Iran's oil, as thousands of US troops arrive in the Middle East.
Speaking to the Financial Times, the US President said he could "take the oil in Iran" and could seize the export hub of Kharg Island.
In an interview with the newspaper on Sunday, he said his "preference would be to take the oil", comparing the potential move to Venezuela where the US intends to control the oil industry "indefinitely" following its capture of leader Nicolįs Maduro in January.
Trump said: "To be honest with you, my favourite thing is to take the oil in Iran but some stupid people back in the US say: 'why are you doing that?' But they're stupid people."
Such a move would involve seizing Kharg Island through which most of Iran's oil is exported.
The comments came as Trump beefed up US forces in the region, with the Pentagon ordering the deployment of 10,000 troops trained to seize and hold land. About 3,500 troops arrived in the region on Friday, including roughly 2,200 Marines. Another 2,200 Marines are on their way, while thousands of troops from the 82nd Airborne Division have also been ordered to the region.
"Maybe we take Kharg Island, maybe we don't. We have a lot of options," Trump told the FT. "It would also mean we had to be there [in Kharg Island] for a while."
Asked about the state of Iranian defence on Kharg Island he said: "I don't think they have any defence. We could take it very easily."
Trump's comments pushed up the price of oil and by 0730 BST, Brent crude was up 2.2% at $114.99 a barrel and West Texas Intermediate was 1% higher at $100.63.
Ipek Ozkardeskaya, senior analyst at Swissquote, said: "Middle East tensions escalated over the weekend as around 3,500 US troops came to the region - increasing the chances of a ground operation that will likely last weeks - and Iran-backed Houthis joined the war.
"That's a big deal as their inclusion brings new uncertainty regarding trade through the Red Sea, at a time when disruption in the Strait of Hormuz is taking a toll on global energy and other essential goods flows - including fertilisers. Saudi, remember, had redirected its oil exports to the Yanbu port on the Red Sea and was able to export around 5mbpd of oil - a bit less than the roughly 7mbpd export capacity through the Strait of Hormuz. So now, shipping through the Red Sea is also becoming risky."
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