US President Donald Trump has hailed Venezuelan oil as the “spoils” of war, in stark contrast to his earlier portrayal of the January operation in Caracas as being intended to bring “peace, liberty, and justice” to the Venezuelan people.

Speaking in Las Vegas on Wednesday, Trump claimed that “billions and billions of barrels of oil” are coming out of Venezuela, describing it as “one of the most fertile places for oil in the world.” Venezuela holds the world’s largest proven oil reserves, surpassing Saudi Arabia and Iran, despite years of sanctions and underinvestment.

Referring to the January operation in which the US kidnapped Venezuelan President Nicolas Maduro, Trump said Washington had recovered its costs “many, many, many times” through the oil it had taken.

“It’s the old-fashioned way. To the victor belong the spoils,” Trump said. He then extended the comparison to Iran, saying: “And we are doing the same in the lovely Islamic Republic of Iran, we’ll knock the hell out of them.”

US forces abducted and imprisoned Venezuelan President Maduro in January on narcoterrorism allegations. Washington subsequently took control of Venezuela’s oil sales, with proceeds directed into US-supervised accounts.

Unlike the 48-minute Venezuela operation, however, the Iran war has entered its sixth month with no military victory or negotiated settlement in sight, as Tehran continues to reject US demands for “unconditional surrender” and vows to keep fighting.

Trump’s remarks echo longstanding arguments made by Russian officials that US military interventions have been driven by control over energy resources.

“The aggression against Iran…Venezuela, and before that Iraq and Libya have always been linked to oil and gas supplies,” Foreign Ministry spokeswoman Maria Zakharova said in an interview with Colombia’s Caracol Radio in March.

Even though the stated US objective in Iran is to degrade its military capabilities and ensure Tehran never acquires a nuclear weapon, Trump has previously indirectly linked the campaign to oil. In June, he said US forces had been secretly escorting oil tankers through the Strait of Hormuz and moving what he described as “millions” of barrels of oil through the waterway.

As November’s US midterm elections near, the Iran conflict is proving deeply unpopular at home. A Reuters/Ipsos poll conducted in late July found that only 33% of Americans support the war, while a majority said Trump has failed to explain its objectives.