From Russia To Iran: How Donald Trump Is Rewriting The Rules Of The Global Oil Game

Last Updated:March 30, 2026, 14:42 IST

Ever since Trump took over as US President, he has tried to capture oil supply, deny supply, seizing chokepoints, and controlling demand.

Is Donald Trump eyeing strategic control over global oil supply? From Venezuela to Cuba and Iran, United States President Donald Trump’s actions could be defining a doctrine, where Trump wants control over who sells oil, who buys it, where it goes from and how much it costs. Ever since Trump took over last year, he has tried to capture oil supply, deny supply, seizing chokepoints, and controlling demand.

As the war between US-Israel and Iran entered its second month, Trump openly signalled an aggressive shift in strategy, saying his “favourite thing is to take the oil in Iran" and floating the possibility of seizing the country’s main export hub on Kharg Island. In an interview, he suggested Washington had multiple options on the table, remarking, “Maybe we take Kharg Island, maybe we don’t. We have a lot of options," while acknowledging that any such move would likely require a prolonged US presence. Trump also claimed Iran’s defences on the island were weak, saying it could be captured “very easily." Drawing a parallel with Venezuela, he added that the US had aimed to control that country’s oil industry “indefinitely" after the removal of President Nicolás Maduro, underscoring a broader push to assert control over strategic energy assets.

From imposing tariffs on countries buying oil from Russia to now talking of controlling Kharg Island and even tanker movement in Strait of Hormuz, Trump’s target looks clear: the US wants to control the oil economics of the world. Here’s looking at Trump’s oil doctrine:

Controlling The Source: Why Donald Trump Went After Venezuela

After a US operation that removed and arrested Venezuelan President Nicolas Maduro, Washington effectively moved to control Venezuela’s oil system. The US allowed American firms to buy and market Venezuelan crude. The payments were routed into US-controlled accounts, and not Venezuelan. The US seized tankers and claimed tens of millions of barrels. This wasn’t just access, it was financial and operational control of another country’s oil economy.

The reasons the US did this were clear. Venezuela has the world’s largest proven oil reserves. The state’s weak capacity made it easier to dominate post-regime change.

Punishing Countries Buying Russian Oil

Under Donald Trump, tariffs on countries continuing to buy crude from Russia have emerged as a key extension of Washington’s energy strategy. Rather than targeting only Russian producers, these measures raise the economic cost for entire countries importing discounted oil, effectively turning trade policy into a geopolitical tool. The impact is twofold: it makes Russian oil less attractive and riskier to purchase, while simultaneously forcing major buyers to look elsewhere for supply. In doing so, the US is not just squeezing Russia, it is shaping global demand by nudging countries towards oil sources that are either aligned with or influenced by Washington.

This fits into a broader effort to rewire global oil flows. As buyers step back from Russian crude, demand is redirected towards alternative suppliers, including US-linked streams such as post-intervention Venezuela or producers aligned with American interests. At the same time, this allows a degree of price calibration: restricting Russian supply can tighten markets and push prices upward, while adding barrels from elsewhere helps stabilise or soften the impact. The result is a more managed oil landscape, where supply and demand are not left entirely to market forces but are increasingly shaped by strategic intervention.

Why Trump Blocked Oil Supplies To Cuba

In Cuba, Trump’s approach has been less about taking control of oil and more about restricting access to it. The US moved to cut off Venezuelan crude supplies to the island, a step that quickly translated into widespread fuel shortages and rolling blackouts on the ground. At the same time, Washington signalled it could impose tariffs or penalties on any country stepping in to supply oil to Cuba, effectively raising the cost of keeping the island’s energy lifeline running. The result is a strategy where oil is used as a pressure point, less a commodity and more a tool to strain the economy and governance of a rival state without direct military intervention. Even when a Russian tanker was briefly allowed through during a particularly acute crunch, it appeared to be a tactical adjustment rather than any real shift in the broader policy of squeezing Cuba’s fuel access.

Why Trump Is Eyeing Iran’s Strategic Oil Hubs

What began as a war to stop Iran from making nukes has now turned into a war of fuels. Trump has signalled a sharp escalation in Washington’s approach towards Iran, openly stating that his “favourite thing is to take the oil in Iran." At the centre of that thinking is Kharg Island, the country’s primary export hub and a critical artery for its economy. Trump suggested the US could move to capture it, saying, “Maybe we take Kharg Island, maybe we don’t. We have a lot of options," while also acknowledging that such a step would likely mean “we had to be there for a while."

Trump has also framed the stakes in broader strategic terms, linking Iran’s oil network to the wider geography of energy flows, particularly the Strait of Hormuz, one of the world’s most critical oil transit routes. He has repeatedly emphasised that the US has the capability to dominate the passage if required, suggesting Washington could “control" or secure the waterway to prevent disruptions and safeguard its interests. The implication is clear: beyond targeting a single export hub like Kharg, the US is signalling its ability to oversee the movement of oil itself. This underscores a broader doctrine where energy is not just a resource in conflict, but a strategic asset, one that can be seized, restricted, or controlled to shape both the battlefield and the global economy.

Is Trump Trying To Own The Oil?

Trump isn’t trying to own all the oil. He is trying to make sure that no significant oil transaction happens outside a system the US can influence. While it is not a monopoly in the classic sense, it’s closer to strategic dominance over the global oil ecosystem.

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