Trump announces Greenland oil, gas and mineral exploration plans, cites accessible reserves and says island will be central to US and European defense against future attacks

US President Donald Trump said plans were underway for major oil, gas and mineral exploration in Greenland, asserting that the Arctic island holds vast, easily accessible oil reserves.

The announcement comes as global energy prices remain elevated more than seven months into the war in Iran. Trump also argued that Greenland’s strategic location would make it central to defending the US and Europe against future attacks. In September, Washington, Denmark and Greenland reached an agreement to expand the US military presence on the island.

Although Trump referred to Greenland as “our new” territory, it remains a self-governing territory within Denmark, and the September agreement recognized Danish sovereignty. Greenland stopped issuing new oil and gas exploration licenses in 2021 over environmental concerns, but licenses granted previously remain valid.