Trump says US ‘may take over Kharg Island’: Here’s what you need to know

What Happened

US President Donald Trump, speaking at the NATO summit in Turkiye, declared the interim ceasefire with Iran 'over' and threatened further strikes after US forces targeted Iranian assets. US Central Command stated that more than 60 boats used by the Islamic Revolutionary Guard Corps (IRGC) were hit. Trump claimed the US 'knocked out 28 boats last night,' confirmed an attack on Kharg Island, and repeated a threat to seize the island, while asserting that he had ordered its oil infrastructure spared. The escalation follows US strikes in response to attacks on three tankers in the Strait of Hormuz, which Washington attributes to Iran. Kharg Island handles about 90 percent of Iran’s crude oil exports.

Key Actors

Why It Matters

Kharg Island is Iran's primary oil export terminal, handling about 90 percent of its crude exports. A seizure or serious disruption would cripple Iran's economy and remove a significant volume from global oil markets, potentially triggering a price spike. The escalation heightens the risk of wider conflict in the Gulf, threatening shipping through the Strait of Hormuz, a critical energy corridor.

Watch For

Oil price volatility and potential supply disruptions as markets react. Further US military strikes on Iranian assets and any Iranian retaliation against shipping or US interests. Diplomatic efforts to de-escalate, particularly from NATO allies. Monitoring of Kharg Island's operational status and Iran's export volumes.