Trump weighing seizure of Iran's Kharg Island oil hub if Hormuz not reopened — Axios

US President Donald Trump is weighing the option of seizing Iran's Kharg Island — the Persian Gulf oil terminal that handles approximately 90% of Iran's crude oil exports — as a lever to force the reopening of the Strait of Hormuz, Axios reported on 16 March 2026 citing unnamed US officials familiar with the deliberations. The report notes that such a move would require American boots on the ground in Iran, representing a significant escalation beyond the current US-Israeli air campaign. Kharg Island, located some 25km off the southwestern Iranian coast in the Persian Gulf, is the loading point for the vast majority of Iranian crude oil exports and one of the most strategically valuable pieces of oil infrastructure in the world. The Axios report also confirms that Trump is working to formally announce a multilateral Hormuz naval coalition this week, consistent with earlier Wall Street Journal reporting. The Kharg option appears to be framed as a unilateral US escalation fallback if the coalition-based approach fails to reopen the waterway. Iran's Strait of Hormuz has been all but closed since the start of the conflict on February 28, cutting off approximately 20% of global oil supplies. Energy Secretary Chris Wright acknowledged this week that energy prices could remain elevated for an extended period.