Trump steps up rhetoric against the Iranian regime: The president threatens to stay in Iran and claims he could seize its oil 'like Venezuela'

President Donald Trump suggested on Sunday in remarks to reporters in Ireland that his administration could remain in Iran and take control of its oil, just as he claimed happened in Venezuela. The president said he expects the conflict with Iran to continue until after the midterm elections, and he emphasized that Tehran is eager to reach an agreement with Washington and has repeatedly tried to make contact. "We’ll ultimately get out unless we decide to stay and keep the oil, like Venezuela," Trump said. 

His latest remarks come after the Trump administration reached an agreement with the regime of Delcy Rodríguez under which the United States will purchase 20% of the oil produced by North American Blue Energy Partners. Trump announced in August that the United States had gained majority control of more than 65 billion barrels of Venezuela's proven oil reserves through a partnership with private companies. While many analysts, both American and Venezuelan, have asserted that this agreement would benefit Venezuela by reviving the country's oil industry, it has, in turn, been deeply unpopular due to its lack of transparency and the fact that it was struck with the Chavista regime without first providing guarantees of a democratic transition.

During his remarks at the Irish Open golf tournament, Trump added that the price of gasoline "will drop like a rock" once the war with Iran ends. Instability in the Middle East has shaken the oil markets, and oil traders expect prices to rise again on Monday following an attack on a Saudi oil pipeline. Trump stated that he will only accept the "right deal" and will not settle for one that "isn't good."

Trump had previously predicted that the conflict with Iran would not end until after the midterm elections. On Wednesday, he made a similar comment while speaking with reporters at Joint Base Andrews as he traveled to Dallas to attend the Republican convention ahead of the midterm elections.