WASHINGTON: U.S. President Donald Trump said on Thursday that any damages caused by Iranian attacks on ships passing through the Strait of Hormuz would be paid for using Iranian funds already frozen under American control.
“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 in a post on Truth Social. “These damages may be very substantial but, nevertheless, this is the fair and equitable thing to do.”
The declaration comes after a series of attacks on commercial vessels in and around the Strait of Hormuz, a strategic waterway that handles nearly a quarter of the world’s seaborne oil trade.
Washington has blamed Tehran for the incidents, which have rattled global energy markets and heightened fears of escalation in the Gulf.
It is pertinent to add here that the United States has long maintained control over billions of dollars in Iranian assets frozen under sanctions.
Trump’s statement suggests Washington could begin tapping those funds to compensate shipping companies and allied operators affected by recent strikes.
Iran has denied responsibility for some of the attacks and accused the United States of inflaming tensions through its naval blockade and sanctions enforcement. Tehran has warned of retaliation if its vessels or interests are targeted further.
Analysts say Trump’s move underscores his administration’s effort to project strength in the Gulf while signaling to allies and global markets that Washington intends to shield maritime trade from disruption. But the measure also risks deepening confrontation with Iran, which has already denounced U.S. seizures of its oil tankers as violations of international law.
