President Trump on Sunday suggested his priority in Iran is taking control of the country’s oil industry as he weighs next steps one month into the war he launched with Israel.
“To be honest with you, my favorite 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,” the president told The Financial Times.
Trump compared his plans in Iran to the takeover in Venezuela earlier this year, after which Trump sought to assert control of the oil industry through a partnership with senior figures in the existing power structure.
Some, including Sen. Lindsey Graham (R-S.C.) have encouraged Trump to take Kharg Island, through which Iran exports 80 to 90 percent of its oil, to cripple Tehran’s regime and economic stability.
“Maybe we take Kharg Island, maybe we don’t. We have a lot of options,” Trump said in the Sunday interview with The Financial Times.
Iran has effectively closed the Strait of Hormuz, where a fifth of the world’s oil supply passes through daily, causing chaos in the global energy markets.
It is hitting Asian economies particularly hard, given their reliance on oil from the Middle East. But the pain is being felt in the United States, too, with gas prices at their highest level in years.
Taking Kharg Island is seen as one way to pressure Iran into making a deal to end the war on U.S. terms, which include winding down its missile and nuclear programs. But Trump conceded on Sunday it would not be an in-and-out operation.
“It would also mean we had to be there for a while,” Trump said.
Lawmakers in both parties have raised fears of a “forever war” in Iran and have raised concerns about the growing toll on U.S. forces and weapons stockpiles.
The Pentagon has deployed thousands of Marines and sailors toward Iran in recent days, at the same time that Trump has tried to open negotiations with senior Iranian officials.
“A deal could be made fairly quickly,” he told The Financial Times.
Trump said he spoke with Iranian Parliament speaker Mohammad Bagher Ghalibaf, who he said authorized 10 Pakistani-flagged oil ships through the Strait of Hormuz as a trust-building measure.
The president told The Financial Times there was agreement to allow another 20 vessels to pass through.
Ghalibaf has previously denied holding talks with Trump and Iran has publicly insisted it will not end the war on U.S. or Israeli terms, issuing its own set of demands last week.
