Trump Threatens to ‘Assume Total Control’ of Iran’s Oil

President Donald Trump said on Thursday the U.S. would hit Iran “VERY HARD TONIGHT,” threatening in a social media post to “assume total control” of Iran’s oil and gas industries, including the strategic Kharg Island export terminal in the “not too distant future.”

Trump’s threat comes as U.S. and Iranian forces traded strikes for a second consecutive day, pushing the Middle East closer to a broader regional war. It marked the third major exchange of hostilities this week, following attacks between Iran and Israel and then rounds of fire between the U.S. and Iran that have spread across countries hosting U.S. military bases.

The escalation signals that the fighting could be entering a particularly dangerous period, with diplomatic efforts appearing strained on both sides. Trump warned Iran would “pay the price” for the stalled negotiations, while Iran accused Washington this week of rendering a ceasefire meaningless through continued military action.

Trump appeared on Fox News on Thursday morning and denied he was frustrated at the impasse but did appear to be annoyed by how the conflict was being perceived.

“The problem is it could be the greatest deal in history,” Trump said. “They could wave the white flag of surrender and say ‘Praise be to Allah’ … and the fake news would say, ‘It was a great victory for Iran.’ It’s the craziest thing I’ve ever seen. We’re killing them. We’re killing them.”

Iran’s Islamic Revolutionary Guard Corps said Thursday that it struck 18 U.S. military targets in the region, including facilities in Kuwait and Bahrain, describing the attacks as retaliation for U.S. strikes on Iranian military and security facilities.

At the United Nations, Iran’s ambassador, Amir Saeid Iravani, urged Trump to refrain from his recurring threats against Iran, saying no lasting agreement could be achieved through intimidation or force. He warned that Tehran would continue to exercise what it called its right of self-defense and said the U.S. would bear responsibility for further escalation.

Trump’s threat to take control of Iranian oil and gas operations represents a dramatic expansion of Washington’s rhetoric. Kharg Island handles the vast majority of Iran’s crude oil exports, making it a critical economic asset.

The U.S. military continued to enforce its blockade of Iranian ports, disabling a Guinea-Bissau-flagged oil tanker in the Gulf of Oman on Wednesday. U.S. Central Command says it has disabled nine non-compliant vessels, redirected 135 ships that complied, and allowed 42 vessels supporting humanitarian aid to pass since initiating the blockade on April 13.

Trump’s latest announcement suggests the back-and-forth attacks are not over even after U.S. Central Command announced Wednesday that it had “completed” what it called self-defense strikes against multiple targets in Iran “at the Commander in Chief’s direction.”

Those strikes included Iranian military surveillance capabilities, communication systems and air defense sites that “posed a threat to U.S. forces and international commercial ships transiting regional waters.”