Trump and Putin Have 'Frank and Constructive' Conversation About Venezuelan Oil as Iran War Shakes Global Energy Markets

U.S. President Donald Trump and Russian President Vladimir Putin discussed Venezuelan oil and the impact of the war with Iran on global energy markets during what the Kremlin described as a "frank" and "constructive" phone call.

The conversation, which lasted about an hour and was the first between the two leaders since December 2025, covered the war involving Iran, the conflict in Ukraine and volatility in oil markets triggered by the fighting in the Middle East. Russian officials said Venezuela was discussed in the context of the global energy market as governments assess supply disruptions linked to the conflict.

Putin's foreign policy adviser Yuri Ushakov said the two leaders held a "substantial" exchange of views and that Putin presented "several proposals" aimed at ending the war with Iran. Trump, he said, offered "his evaluation of the events in the context of the ongoing U.S.-Israeli operation," as per The Moscow Times.

The call came as the conflict involving the United States, Israel and Iran entered its ninth day and has pushed oil prices higher while raising concerns about supply disruptions, particularly around the Strait of Hormuz, a key route for global energy shipments.

Trump later told reporters he had "a very good call with Putin" and said the Russian leader "wants to be helpful" regarding the crisis in the Middle East. Trump added that he urged Putin to focus on ending the war in Ukraine. "I said, 'You could be more helpful by getting the Ukraine-Russia war over with. That will be more helpful,'" he said.

The Kremlin said the leaders also discussed the situation in Ukraine, with Putin describing the military situation along the front line and expressing support for continuing diplomatic contacts involving Russia, the United States and Ukraine.

Kremlin spokesman Dmitry Peskov said Trump did not request a ceasefire during the call but that Moscow appreciated Washington's mediation efforts and remained open to further negotiations.

Russian officials also said Moscow has previously proposed options to de-escalate the conflict with Iran and remains ready to assist in resolving the crisis, although Peskov said Putin should not be described as a mediator at this stage.