- Trump told reporters “if it were up to me, I’d take the oil” — framing seizure of Iran’s energy sector as a windfall for the U.S. and a way to squeeze China, which has relied on discounted Iranian crude
- People familiar with Trump’s thinking say controlling Iranian energy flows is seen as leverage heading into his May 14–15 summit with Xi Jinping in Beijing
- Trump also threatened to bomb Iran’s bridges and power plants if the Strait of Hormuz isn’t opened to “free travel” by Tuesday evening, Washington time
- A White House official confirmed Trump likes the idea of seizing Iranian oil but said there are no formal plans — and it is not part of the current military program
What Happened?
President Trump on Monday publicly discussed the prospect of seizing control of Iran’s oil sector, framing it as both a financial reward for U.S. military engagement and a strategic move to gain leverage over China. Speaking to reporters at the White House, Trump said: “If it were up to me, I’d take the oil, I’d keep the oil. I would make plenty of money.” People familiar with his thinking told Bloomberg that a key driver is the belief that controlling Iranian energy flows would strengthen his hand ahead of a May summit with Chinese President Xi Jinping. A White House official confirmed Trump’s interest but said there are no formal plans to execute the idea.
Why It Matters?
The comment reveals the dual logic animating Trump’s Iran strategy: it is simultaneously a conventional military conflict and a gambit in the broader U.S.-China competition over global energy. China had been purchasing nearly 100% of Iran’s oil output at a discount before the war, effectively funding Tehran’s military machine. The closure of the Strait of Hormuz has already disrupted that arrangement, and a U.S. seizure of Iranian energy assets would eliminate it entirely — dealing a significant blow to Chinese refiners and Beijing’s energy security. Trump has already applied a version of this playbook in Venezuela, where the ouster of Maduro reduced Chinese access to discounted crude and shifted tankers toward India and other buyers.
What’s Next?
Trump set a Tuesday deadline for Iran to reopen the Strait of Hormuz, threatening strikes on bridges and power plants if the deadline is missed, and has separately floated seizing Kharg Island, Iran’s primary oil export hub. Energy analysts caution that permanently controlling Iranian oil infrastructure would require a far larger and longer U.S. military commitment than currently envisioned, and polls show most Americans want a swift exit from the conflict. Trump’s May 14–15 summit with Xi in Beijing will be a critical test of whether energy pressure translates into tangible trade or geopolitical concessions.
Source: Bloomberg
