Trump Says Iranian Frozen Assets Under US Control Will Pay for All Hormuz Shipping Damage

WASHINGTON, Jul 24: US President Donald Trump said that any damage to ships, cargo or related assets in the Strait of Hormuz would be compensated using Iranian funds under US control.

In a statement posted on his Truth Social platform, Trump said the policy would remain in effect until further notice.

“From this point forth, any and all damages done to Ships, Cargo, or anything related thereto, will be paid for by Iranian Money that the United States has in its possession, and controls,” Trump wrote.

He added that the damages “may be very substantial” but described the move as “the fair and equitable thing to do.”

Trump did not specify which Iranian funds would be used. However, billions of dollars in Iranian assets remain frozen under US sanctions.

The announcement comes as hostilities between the United States and Iran continue to disrupt regional security. The US has carried out a series of strikes across Iran since last week, while Tehran has responded with attacks targeting facilities and bases it says are used by US forces in several countries across the Middle East.

The fighting has continued despite a Pakistan-brokered framework agreement signed by the two countries in June aimed at ending the conflict and paving the way for a lasting peace deal.

The conflict has also driven up global energy prices and disrupted shipping through the Strait of Hormuz, one of the world's most strategically important oil transit routes.