Trump Floats Idea of US Keeping Oil in Iran, Citing Venezuela Deal

President Trump floated an unusual idea on Sunday while in Doonbeg, Ireland, suggesting that the U.S. could 'stay and keep the oil' in Iran. He compared this notion to a major oil deal with Venezuela, where the U.S. purchases 20% of the oil from North American Blue Energy Partners at the cost of production.

The Trump administration struck a deal with Venezuela for the U.S. to purchase 20% of the oil from North American Blue Energy Partners, a private company that is Venezuela's second-largest private oil producer. This oil can then be used to fill the U.S.'s Strategic Petroleum Reserve.

Trump has sought to control Iran's oil supply months into the conflict, telling the Financial Times in March that taking the oil was his 'favorite thing.'