President Trump signaled he is considering a dramatic escalation in the conflict with Iran, including the possibility of taking control of the country’s key oil export hub, Kharg Island.

In remarks to the Financial Times, Trump said, “To be honest with you, my favourite thing is to take the oil in Iran,” suggesting that U.S. forces could seize and potentially hold the island. He downplayed the likelihood of resistance, adding that Iran lacked meaningful defenses, though he acknowledged any occupation could require a prolonged presence.

Trump also drew comparisons to a prior U.S. move to take control of oil assets in Venezuela earlier this year, while dismissing critics of similar action in Iran as “stupid people.” At the same time, the president issued a stark warning tied to ongoing negotiations. Posting on his Truth Social platform, he said the U.S. is engaged in “serious discussions with A NEW, AND MORE REASONABLE, REGIME to end our Military Operations in Iran,” but made clear that failure to reach a deal—or to reopen the Strait of Hormuz—could trigger massive escalation. “Great progress has been made but, if for any reason a deal is not shortly reached, which it probably will be, and if the Hormuz Strait is not immediately ‘Open for Business,’ we will conclude our lovely ‘stay’ in Iran by blowing up and completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!), which we have purposefully not yet ‘touched,’” Trump wrote.

Officials familiar with the situation have cautioned that such an operation would be highly dangerous. Kharg Island lies within range of Iranian missiles and drones, and even if captured, it would not necessarily ease disruptions in the Strait of Hormuz—a vital corridor for global oil shipments. Tankers leaving the Gulf could still face attacks, limiting any real impact on supply despite rising oil prices.

Meanwhile, the broader conflict continues to spill across the region. NATO confirmed that its air defenses intercepted an Iranian missile headed toward Turkey, marking the latest in a series of such incidents. Turkish officials said it was the fourth interception since fighting intensified.

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