Reported by Afilawos Magana Sur, Managing Editor | Journalist at Sele Media Africa.
WASHINGTON, United States — Donald Trump has suggested that taking control of Iran’s oil remains “an option,” a remark that sharpened fears of a wider confrontation as oil markets continue to react to the war involving Iran and the tightening of shipping through the Strait of Hormuz. The comment came during a Cabinet meeting on Thursday, March 26, 2026, as Trump compared Iran with Venezuela and defended earlier U.S. pressure tactics against Nicolás Maduro. (apnews.com)
Trump Links Iran To Venezuela Model
Trump said the United States had done “very well” with Venezuela’s oil resources and framed control of Iranian oil as a strategic possibility rather than a fixed policy. AP reported that he made the remarks while arguing that Tehran was “begging to make a deal,” adding another layer of uncertainty to Washington’s posture in the middle of the conflict. (apnews.com)
The statement matters because Iran sits at the centre of a conflict that has already rattled the global energy system. AP reported on March 26 that stocks fell and oil prices rose as uncertainty over the war weighed on Wall Street, while fighting and military pressure continued to tighten the situation around the Strait of Hormuz. (apnews.com)
The Strait of Hormuz remains one of the world’s most important energy chokepoints. AP said on March 20 that the waterway normally carries about a fifth of the world’s oil and liquefied natural gas, and reporting on March 26 showed that Iran had tightened its grip on the passage as the war deepened. (apnews.com)
Oil Markets React To War Risks
The market response has been immediate and severe. AP reported on March 26 that oil prices climbed again as the war uncertainty persisted, while earlier coverage described the conflict as having all but halted oil exports through the Strait of Hormuz. (apnews.com)
Reuters reporting carried through secondary market coverage showed that traders have treated any threat to Hormuz as a direct supply shock, with prices surging as shipping traffic slowed or stopped. A Reuters-cited market report on March 9 said oil prices rose about 20 percent in early trade as the expanded conflict threatened prolonged disruption to shipments through the strait. (investing.com)
That volatility matters well beyond the Middle East. African importers in Kenya, Nigeria, Ghana, South Africa and Egypt all face higher fuel costs when global oil prices jump, and those increases can quickly feed into transport fares, food prices and inflation. The war’s effect on shipping lanes therefore reaches African households even when the fighting remains far away. (apnews.com)
Hormuz Pressure Raises Global Stakes
AP reported that Iran tightened its hold on the Strait of Hormuz as the war intensified, while analysts warned that sustained disruption could push oil prices far above levels already seen in March. Coverage from March 20 said the conflict had shut down or heavily constrained exports through the corridor. (apnews.com)
That makes Trump’s language especially consequential. When a U.S. president publicly floats control of another country’s oil as an option, it signals not only economic coercion but also a potential escalation in military and strategic thinking. In the current environment, that can amplify market fear before any policy is actually enacted. (apnews.com)
AP’s reporting on March 24 also showed that diplomatic actors were already debating a Security Council proposal tied to keeping the Strait of Hormuz open, with some diplomats opposing language that raised the possibility of U.N.-backed force. Trump’s remarks now add another layer of tension to that already volatile debate. (apnews.com)
Washington’s Posture Tests International Norms
The comments also raise legal and diplomatic questions. Control of another sovereign state’s oil infrastructure would touch directly on issues of territorial integrity, the prohibition on coercive intervention and the wider rules governing the use of force in international relations. Even as a rhetorical option, the idea pushes the boundaries of acceptable statecraft. (apnews.com)
International observers have long warned that resource control can become a proxy for regime pressure. Trump’s comparison with Venezuela matters here because critics have repeatedly accused Washington of using sanctions, asset pressure and energy leverage to shape political outcomes abroad. His remarks on Iran suggest that logic may now extend even further. (apnews.com)
For Iran, the threat lands in a country already under severe strain from conflict, isolation and disruption to export flows. AP’s March 26 coverage noted that the fighting had sharpened uncertainty around oil markets and widened the geopolitical fallout beyond the battlefield. (apnews.com)
Why Africa Cannot Ignore The Shock
For Africa, the stakes are immediate and practical. Countries that import refined fuel or subsidise energy are especially exposed when the Strait of Hormuz becomes unstable, because higher crude prices lift the cost of transporting goods, running generators and moving food across long supply chains. (apnews.com)
That exposure is especially relevant for Nigeria, Ghana and Kenya, where governments have faced recurring inflation pressure from imported energy costs. It also matters for Egypt and South Africa, where currency stress and shipping costs can magnify any oil shock. (apnews.com)
The crisis also touches African diplomacy. If major powers treat oil infrastructure as a bargaining chip in a regional war, African states will have to navigate the consequences in the UN, the African Union and bilateral energy markets. That makes the debate about Iran’s oil not only a Middle East story, but a continental economic concern. (apnews.com)
What Happens Next
The immediate question is whether Trump’s remarks remain rhetorical or evolve into policy guidance for U.S. negotiators and military planners. Markets will keep watching for any further signals from Washington, Tehran and Gulf states as the war continues to shape oil flows and shipping insurance costs. (apnews.com)
For African economies, the next move in the Strait of Hormuz could decide whether fuel prices stabilise or spike again in the coming weeks. If the conflict deepens, the economic shock will travel far beyond Tehran and Washington, landing in African transport bills, food baskets and central bank forecasts. (apnews.com)
Sources:
- Associated Press, “Stocks fall and oil prices rise as uncertainty about the war with Iran weighs on Wall Street,” March 26, 2026.
- Associated Press, “Iran and the US harden their positions over talks to end the nearly month-old war,” March 26, 2026.
- Associated Press, “Energy fallout from Iran war signals a global wake-up call for renewable energy,” March 20, 2026.
- Associated Press, “Bahrain’s UN proposal calling for ‘all necessary means’ to open Strait of Hormuz faces opposition,” March 24, 2026.
- Reuters reporting as carried in Reuters-cited market coverage on oil price moves and Hormuz disruption, March 2026.
