Trump: We may stay in Iran and keep its oil, similar to Venezuela

Tehran seeks a deal... and the war could end after the midterm elections

US President Donald Trump said on Sunday that the United States might decide to remain in Iran and retain oil, comparing this possibility to what Washington did in Venezuela.

Trump told reporters while at his golf course in Doonbeg, Ireland, that the US would eventually withdraw from Iran, “unless we decide to stay and keep the oil, as we did in Venezuela,” adding that US revenues from Venezuela had covered the costs of the war there multiple times, according to Reuters.

Trump reiterated his expectation that the war with Iran would end this year, suggesting it would likely occur immediately after the US midterm elections scheduled for November.

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He added that gasoline prices would drop sharply once the war with Iran ends.

Regarding the possibility of reaching a deal with Tehran, the US president said he would only sign the “right deal” and would not accept a “bad” one, adding that Iran is in constant contact seeking peace talks.

Trump had previously stated during his visit to Ireland that Iran strongly wants to reach a deal, but he does not believe it is yet ready to conclude one.

Trump’s comments come as energy markets face growing disruptions due to the war, amid expectations of another rise in oil prices following the attack on Saudi Arabia’s East-West oil pipeline, alongside ongoing disruptions to navigation through the Strait of Hormuz.