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Iran Conflict 2026
20APR

Trump says taking Iran's oil is his goal

3 min read
10:10UTC

The US president told the Financial Times he wants to seize Iran's oil, claimed a peace deal was imminent, and sent thousands of troops to the Gulf. All on the same day.

ConflictAssessed
Key takeaway

Three incompatible US objectives persist until one is abandoned.

Trump told the Financial Times on 30 March that his 'favourite thing is to take the oil in Iran,' directly naming Kharg Island, the terminal handling 90% of Iran's crude exports. 1 In the same interview he claimed Tehran had accepted 'most of' a US 15-point framework and that a deal 'could be soon.' He also acknowledged that killing Iran's leaders constitutes "regime change," contradicting weeks of administration denials. 2

Vice President Vance told a podcast five days ago that Iran's military is 'effectively destroyed,' then rebuked Prime Minister Netanyahu for "overselling the likelihood of Iran regime change" . Secretary of State Rubio told G7 ministers on 27 March that the war needs two to four more weeks . CENTCOM declared victory while the 82nd Airborne deployed . Iran's senior security officials responded through CNN: Tehran will determine when the war ends. Trump's own words have sharpened a contradiction that was already visible into something no diplomatic interlocutor can ignore.

No state enters peace negotiations while its adversary publicly declares intent to seize its primary revenue source. Pakistan's Foreign Minister Ishaq Dar was offering to host direct US-Iran talks 'in coming days' at the exact moment Trump's interview circulated. The Islamabad diplomatic track, the strongest multilateral initiative of the conflict , concluded without a communique. A counter-perspective exists: some analysts argue Trump's statements are negotiating pressure, not operational intent. But the Pentagon's simultaneous confirmation of 'weeks of ground operations' planning and the arrival of 3,500 Marines in CENTCOM make that reading harder to sustain.

The 1968 Vietnam parallel is uncomfortable but relevant. Washington simultaneously escalated forces and pursued peace talks in Paris. The war continued seven more years. Negotiations succeeded only when military options were exhausted. The structural conditions here are similar: no mechanism exists to force a choice between the three tracks until one fails on its own terms.

Deep Analysis

In plain English

On the same day that American warships with thousands of troops arrived near Iran, President Trump gave an interview saying he most wanted to 'take the oil' from Iran, naming a specific island where most of Iran's oil exports leave from. At the same time, he said a peace deal was close. These two things directly contradict each other. No country will negotiate peace while the other side is publicly planning to seize its main source of income. Pakistan was at that very moment hosting a meeting of four countries trying to arrange peace talks. Trump's interview landed in the middle of it.

Deep Analysis
Root Causes

The US entered the conflict without a unified political objective. The military mission (degrade Iranian nuclear and missile capability) diverges structurally from the economic goal (reopen Hormuz) and the political goal (not government overthrow, per administration denials).

Trump's instinct to seize tangible assets reflects a transactional approach to conflict that treats oil as collateral, not as part of a coherent strategic objective. The administration inherited no policy consensus, and Trump's personal interventions have repeatedly overridden diplomatic channels before they consolidate.

What could happen next?
  • Consequence

    The Islamabad diplomatic track is structurally compromised. Pakistan cannot host talks where one party has publicly declared intent to seize the other's primary revenue source.

    Immediate · 0.9
  • Risk

    Three simultaneous and incompatible US objectives, with no internal mechanism to choose between them, increase the probability of unintended escalation as each track operates independently.

    Short term · 0.85
  • Precedent

    A presidential declaration of intent to seize a foreign state's primary resource terminal during active hostilities has no precedent in post-1945 international law outside colonial-era seizures.

    Long term · 0.95
First Reported In

Update #52 · Trump wants Iran's oil; 3,500 Marines land

CNBC / Financial Times· 30 Mar 2026
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Different Perspectives
Global South governments (Indonesia, Brazil, South Africa)
Global South governments (Indonesia, Brazil, South Africa)
Neutrality was possible when the targets were military. 148 dead schoolgirls made it impossible — no government can explain that away to its own citizens.
Trump administration
Trump administration
Oscillating between claiming diplomatic progress and threatening escalation, while deploying additional ground forces to the Gulf.
Israeli security establishment
Israeli security establishment
Fears a rapid, vague US-Iran agreement that freezes military operations before the IDF achieves what it considers full strategic objectives. A senior military official assessed the campaign is 'halfway there' and needs several more weeks.
Iraqi government
Iraqi government
Iraq's force majeure is the position of a non-belligerent whose entire petroleum economy has been paralysed by a war between others — storage full, exports blocked, production being cut with no timeline for resumption.
Russia — Ambassador Vassily Nebenzia
Russia — Ambassador Vassily Nebenzia
Moscow calibrated its position between Gulf states and Iran: abstaining on Resolution 2817 rather than vetoing it, signalling it would not block protection for Gulf states, while refusing to endorse a text that ignores the US-Israeli campaign it regards as the conflict's proximate cause. Russia proposed its own ceasefire text — which failed 4-2-9 — allowing Moscow to claim the peacemaker role while providing Iran with satellite targeting intelligence, a duality consistent with its approach in Syria.
France — President Macron
France — President Macron
France absorbed its first combat death in a conflict it has publicly declined to join. The killing of Chief Warrant Officer Frion in Erbil forces Macron to choose between escalating involvement and accepting casualties from the margins.