Trump threatens to take 'total control' of Iran's oil industry as ceasefire teeters

U.S. President Donald Trump threatened on Thursday to launch major strikes on Iran and seize control of its oil and gas industries, as ongoing attacks between the two countries push the Middle East closer to a full-scale war. The threat comes amid a teetering ceasefire and escalating hostilities. Trump's statement signals a dramatic escalation in U.S. policy toward Iran, potentially involving direct military action and economic seizure of energy assets. The announcement was made by the President without immediate details on implementation or legal basis. Iran is one of the world's largest oil producers, and any disruption to its output could significantly impact global energy markets. The threat follows a series of attacks and counterattacks between Iran and its adversaries, with the ceasefire appearing increasingly fragile. No official response from Iran has been reported yet.

Global Impact

Economically, the threat could trigger a sustained oil price rally, raising inflation globally and complicating central bank rate paths. Geopolitically, it risks a direct U.S.-Iran military confrontation, destabilizing the entire Middle East and potentially drawing in regional proxies.