▲ U.S. President Donald Trump speaks during a Cabinet meeting at the White House in Washington on March 26, 2026, in this photo released by the Associated Press. (Yonhap)

Trump-Iran war

Trump says taking control of Iran oil an 'option,' cites Venezuela

By Song Sang-ho

WASHINGTON, March 26 (Yonhap) -- U.S. President Donald Trump said Thursday that taking control of Iran's oil is an "option," as he heaped pressure on the Islamic Republic to reach a deal to end the war with the United States and Israel.

Trump made the remarks during a Cabinet meeting at the White House, saying that after the capture of Venezuelan President Nicolas Maduro in a U.S. military strike in January, U.S. involvement in the South American country's oil sector has enabled America to take in "billions of dollars."

"It's an option. I mean, I wouldn't talk about it, but it's an option," Trump said, responding to a reporter's question about whether taking control of Iran's oil could be under consideration.

He then pointed out the case of Venezuela, raising speculation that U.S. involvement in Iran's oil industry after the end of the war could be a possibility.

"Well, in Venezuela, we've done very well working with Venezuela. Certainly, we've taken in billions and billions of dollars," he said. "By the way, Venezuela is doing better right now than they've ever done in the history of their country, and a sort of joint venture, but the U.S. has made a lot of money."

His remarks came a day before his deadline for Iran to reopen the Strait of Hormuz was set to expire. Trump presented the new deadline on Monday, after he threatened on Saturday to "obliterate" Iran's power plants and energy infrastructure if Tehran does not fully open the strait within 48 hours.

Trump doubled down on his claim that Iran is eager to make a deal to end the war. Iranian Foreign Minister Abbas Araghchi has reportedly acknowledged that indirect messages have been exchanged with the U.S. through intermediaries, but noted that it does not amount to formal negotiations.

"They're great negotiators. I say they're lousy fighters, but they're great negotiators, and they are begging to work out a deal," he said of the Iranian negotiators.

"I don't know if we'll be able to do that. I don't know if we're willing to do that. They should have done that four weeks ago. They should have done it two years ago, or they should have done it when we first came into office."

If Iran makes the "right deal," then the Strait of Hormuz will open up, the president said. The strait, responsible for about a fifth of the world's oil supply, has effectively been choked off due to the ongoing conflict.

During the Cabinet meeting, Steve Witkoff, the special envoy to the Middle East, confirmed that the U.S. has presented a 15-point "action list" that forms the framework of a peace deal with Iran.

"This has been circulated through the Pakistani government acting as the mediator," he said, referring to the proposal that reportedly involves U.S. demands concerning Iran's nuclear and missile programs, its uranium stockpiles and other matters.

Trump revealed that Iran allowed 10 oil tankers to transit through the strait this week as a "present" meant to show the U.S. "the fact that we're real and solid and we're there."

On Tuesday, he said that Iran gave the U.S. a "very significant prize" related to oil and gas, but he did not elaborate on it.

Again, he expressed his disappointment that North Atlantic Treaty Organization (NATO) allies did not accede to Trump's request to provide naval assistance to help secure the Strait of Hormuz, while noting that his request was a "test" of the allies' willingness to support the U.S.

"If you don't do that, we're going to remember, just remember," he said. "They have a great expression: Never forget. Never forget."

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