Trump Threatens to Seize Iran's Oil as U.S. Strikes Enter Day Three

June 11, 2026

On the morning of June 11, 2026, President Donald Trump posted a message on Truth Social that read: "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." He then added that the U.S. would soon 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."

U.S. Central Command confirmed that American forces completed additional self-defense strikes against multiple Iranian targets on June 10, firing precision munitions from Air Force and Navy fighter jets at surveillance capabilities, communication systems, and air defense sites. Trump separately told Fox News that 49 Tomahawk missiles struck targets inside Iran, some within 40 miles of Tehran.

It is now the third consecutive day of U.S. strikes on Iranian soil. Congress has not authorized any of it.

What Kharg Island Is and Why It Matters

Kharg Island is Iran's main oil export terminal, handling roughly 90 percent of the country's petroleum exports. Seizing it would not be a symbolic gesture. It would be an occupation of sovereign territory to extract and control another nation's natural resources, with no modern legal precedent among U.S. allies.

Iran's Revolutionary Guards declared the Strait of Hormuz closed to oil tankers and commercial vessels after the June 10 strikes, threatening to fire on any ship attempting passage. The Strait carries roughly 20 percent of the world's oil trade. Brent crude surged past $120 per barrel following the closure announcement. The International Energy Agency called it "the largest supply disruption in the history of the global oil market."

Three Indian sailors died after a U.S. strike hit the Palau-flagged tanker MT Settebello off the coast of Oman, prompting a formal protest from New Delhi. Trump had cultivated India as a strategic partner. That relationship is now under pressure from a war India did not sign up for.

Congress Votes to Stop the War It Wasn't Asked to Start

On June 3, the House passed a war powers resolution directing Trump to end hostilities with Iran. The vote was 215 to 208, with four Republicans breaking ranks: Reps. Thomas Massie (R-Ky.), Brian Fitzpatrick (R-Pa.), Tom Barrett (R-Mich.), and Warren Davidson (R-Ohio). Massie called the strikes "acts of war unauthorised by Congress."

Senate Minority Leader Chuck Schumer said answers provided at a classified congressional briefing were "completely and totally insufficient." Senator Tim Kaine called for a statutory check on the president's war-making authority.

The resolution is concurrent and not binding: it does not carry the force of law and faces a near-certain veto threat in the Senate. But the bipartisan vote is the clearest public signal yet that Republican support for the war is eroding, even as Trump expands its stated objectives from military targets to sovereign oil seizure.

"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." , Donald Trump, Truth Social, June 11, 2026

The Venezuela Comparison

Trump's claim that seizing Iranian oil would be "working out brilliantly" like Venezuela deserves scrutiny. The U.S. does not control Venezuela's oil sector. Venezuela's production has partially recovered through a combination of sanctions relief negotiations and private investment, not American seizure. The Venezuela comparison is invented precedent for an action that has none.

What Trump is describing for Iran is resource extraction through military force. The targets announced on June 10 were radar sites and air defense installations. The targets announced on June 11 include Kharg Island's energy infrastructure and "other oil infrastructure points." The mission's stated purpose has shifted from "self-defense" to taking possession of a foreign country's primary revenue source, with no congressional authorization, no UN mandate, and no exit condition named.

The Economic Fallout Is Already Here

The 2026 Strait of Hormuz crisis has triggered what economists are comparing to the 1970s energy shock: acute supply shortages, currency volatility, rising inflation, and heightened risk of stagflation. The Dallas Fed projected average WTI crude prices at $98 per barrel for Q2 2026 even before the June 11 escalation. Bloomberg's analysis of a full Hormuz closure projects further price spikes with cascading effects on shipping, manufacturing, and consumer goods across every import-dependent economy.

Americans are paying the bill for a war their elected representatives did not vote for, waged over oil infrastructure their president wants to "assume total control" of, with no plan disclosed for what comes after.

Sources

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