President Trump said the U.S. may keep Iranian oil under an arrangement similar to one involving Venezuela, as talks between Gulf states and Iran over the Strait of Hormuz stalled, according to CNBC.
Key facts
- Trump said the U.S. may keep Iranian oil 'like Venezuela.'
- He said revenue from the Venezuela arrangement has 'paid for the war many times.'
- The remarks come as Gulf-Iran talks over the Strait of Hormuz have stalled, according to CNBC.
President Donald Trump has suggested the United States could retain Iranian oil under an arrangement he likened to one involving Venezuela, according to CNBC. The comments came as talks between Gulf states and Iran over the Strait of Hormuz stalled.
Trump said revenue from the Venezuela arrangement has ‘paid for the war many times,’ according to CNBC’s reporting. He drew the comparison in framing how a similar approach might apply to Iranian oil.
The reference to the Strait of Hormuz underscores the strategic stakes involved. The narrow waterway is one of the world’s most important routes for the movement of crude oil, and disruptions there have historically drawn close international attention.
CNBC reported that talks between Gulf countries and Iran over the strait had stalled at the time of Trump’s remarks. The outlet’s account is the basis for the details reported here.
Beyond the comparison to Venezuela and the reference to war-related revenue, further specifics of any proposed arrangement were not detailed in the available source material.
Why it matters
Any move affecting Iranian oil and the Strait of Hormuz touches global energy supplies and prices, making the situation significant for markets and consumers worldwide. Statements from the U.S. president on such matters can shape diplomatic dynamics and market expectations even before formal policy takes shape.
Frequently asked questions
What did Trump say about Iranian oil?
According to CNBC, Trump said the United States may keep Iranian oil under an arrangement he compared to Venezuela.
What did Trump say about the Venezuela arrangement?
Trump said revenue from the Venezuela arrangement has 'paid for the war many times,' according to CNBC.
Why is the Strait of Hormuz relevant here?
CNBC reported the remarks came as Gulf-Iran talks over the Strait of Hormuz stalled; the strait is a key route for global oil movement.