Donald Trump has warned the US will hit Iran “very hard” and seize control of the country’s oil industry “in the not too distant future”.
The threat by the US president came as both sides continued to exchange strikes that risk the return of a full-scale conflict in the Middle East.
Among the sites he said would be taken was Kharg Island, Iran’s main oil export terminal, although it is unclear how this would be achieved without ground troops.
Mr Trump likened the situation to Venezuela, where the US assumed control of the oil sector after capturing the country’s then-president Nicolas Maduro in January.
Writing on his Truth Social platform, Mr Trump said: “The United States will be hitting Iran (Whose Navy, Air Force, Radar, Anti Aircraft, and all other forms of Defense, together with most of its offensive capability, are GONE!), VERY HARD TONIGHT.
“At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela, which is working out brilliantly for both Venezuela and the United States of America.”
The latest clashes come amid stalled efforts to end the war, and have taken the shaky two-month truce to the brink.
Iran’s foreign ministry said the US attacks had “effectively rendered the ceasefire … meaningless” but stopped short of saying it was abandoning it.
Central to the negotiations has been Iran’s stranglehold on the Strait of Hormuz, which has disrupted oil and gas supplies and driven up fuel and food prices.
The strategic waterway has become a flashpoint in the conflict, with the US claiming it was in control of the channel after Mr Trump said there had been a secret mission in recent weeks to escort ships through.
However, the number of vessels remained well down on the number transiting before Iran effectively closed the strait in response to the joint US-Israeli offensive at the end of February.
Another obstacle are Iran’s nuclear plans, which Tehran insists are peaceful but the US and Israel fear could be used to build a weapon due to its stockpile of highly enriched uranium.
Meanwhile, US treasury secretary Scott Bessent has said Washington would use money from frozen Iranian accounts to offset the actions of the Tehran regime, arguing it would “lose the zero-sum game it is playing”.
In a post on X, he said: “Any damage it inflicts on our allies in the Gulf will be paid for with funds extracted from Iranian Accounts.
“Any tolls paid to the Persian Gulf Strait Authority will be offset by funds extracted from their accounts.
“Every attack Iran launches will only deepen the economic and financial consequences it faces.”
