Warner And Kaine On New Report Showing Trump Profiting Off Of Iran War While Americans Pay More At The Pump

WASHINGTON, D.C.-Today, U.S. Senators Mark R. Warner and Tim Kaine (both D-VA) issued the following statement after a new Joint Economic Committee (JEC) report found that President Donald Trump's personal wealth from oil and gas stocks has skyrocketed to as high as $81.6 million-due in large part to the Iran war-all while Americans have spent over $101 billion more on gas since the war began:

"Tomorrow will mark eight months since the Trump-Vance Administration launched its disastrous war against Iran that has killed and injured American servicemembers and sent prices soaring. Americans never wanted this war in the first place, and now we're learning that President Trump has made millions of dollars off of it? Enough is enough. We will continue to fight every single day in Congress to end the war, bring down costs for families, and put a stop to Trump's rank corruption."

According to the JEC, Trump's personal wealth in oil and gas stocks has increased by as much as $35.8 million this year, bringing his total net oil and gas holdings to as high as $81.6 million. Effects of the Iran war, including disrupted supply chains, have driven up the cost of fuel, simultaneously increasing both the value of oil and gas stocks and the price of gasoline at the pump. Since the Iran war began on February 28, 2026, Americans have spent an additional $101 billion on gas, for an average of $856 in additional expenditure on gas per family. Virginians have spent $3 billion more on gas overall, equating to an average $935 more per household.

A link to the full JEC report, including state-by-state data, can be found here.

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