Senator accuses Trump of making millions from Iran conflict
A U.S. senator accused former President Donald Trump of personally profiting by more than US$15 million from the ongoing Iran conflict through his energy company’s stock holdings, escalating scrutiny over alleged…
Source: Astro Awani · August 26, 2026 at 5:30 AM · AI-assisted report
Corroborated
WASHINGTON, MARYLAND, WEST ASIA, STRAIT OF HORMUZ, KUALA LUMPUR, MALAYSIA, 26 AUGUST 2026 —
WASHINGTON, Aug 26 (Reuters) – A U.S. senator accused former President Donald Trump of personally profiting by more than US$15 million from the ongoing Iran conflict through his energy company’s stock holdings, escalating scrutiny over alleged conflicts of interest in his administration.
Market Impact
Senator Chris Van Hollen, a Democrat from Maryland, cited a report by Democratic members of the Joint Economic Committee (JEC) of Congress showing that Trump’s oil and gas company holdings surged to US$15.5 million this year. In a post on X, Van Hollen said Trump had turned the White House into “a pay-to-play casino,” adding that while Americans faced rising prices, Trump’s stock portfolio benefited.
“Trump continues to profit off Americans’ pain – including the senseless war he started in Iran,” Van Hollen wrote. “Pure corruption.”
The senator described the gains as a form of corruption amid a prolonged military crisis in West Asia that has disrupted global energy markets and domestic supply chains in the United States.
The conflict, which has persisted for years, has driven volatility in global oil prices and strained U.S. economic stability. Analysts warn that prolonged geopolitical tensions could further inflate energy costs, affecting inflation and consumer spending in America.
Trump’s energy ventures have long drawn scrutiny over potential conflicts of interest. During his presidency, he retained ownership of his businesses while in office, a decision that drew criticism from ethics watchdogs. The JEC report did not specify which energy assets contributed to the US$15.5 million gain, and details on the companies involved remain unavailable.
The allegations come as U.S.-Iran tensions remain high following a series of military escalations, including strikes and counter-strikes in the region. The conflict has led to disruptions in global oil supply routes, particularly through the Strait of Hormuz, a critical chokepoint for crude oil shipments.
In Malaysia, where energy prices and geopolitical stability are closely monitored due to the country’s reliance on oil imports, the news has drawn attention from analysts tracking global energy markets. Petronas, Malaysia’s state-owned oil company, has previously highlighted risks posed by regional conflicts to supply chains and pricing.
“Any escalation in West Asia directly impacts global oil benchmarks like Brent crude, which Malaysia uses as a reference for its LNG and crude oil contracts,” said an energy analyst with a Kuala Lumpur-based firm, who declined to be named. “Volatility in oil prices can influence Malaysia’s fiscal position, especially if global prices spike due to supply disruptions.”
The JEC report did not provide further details on the specific energy assets owned by Trump or the timing of the stock purchases. The White House and Trump’s representatives have not responded to requests for comment.
Looking ahead, the outcome of the allegations could influence public perception of ethical governance in U.S. leadership and may prompt further regulatory scrutiny of presidential business interests. For now, the energy sector remains on edge as geopolitical risks continue to shape market dynamics globally.
Related: Petronas