- July 24, 2026
‘Fair Thing To Do’: Trump Says Frozen Iranian Assets Under US Control Will Pay For Ship Damages
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There is also no confirmed information on the exact amount of Iranian assets currently held or controlled by the US.
US President Donald Trump (Source: Reuters)
US President Donald Trump on Friday said that Washington would use frozen Iranian assets under its control to pay for damage caused to ships, cargo and related property by strikes in and around the Gulf region.
In a post on Truth Social, Trump said the US would use “Iranian Money that the United States has in its possession, and controls” to cover “any and all damages done to Ships, Cargo, or anything related thereto”.
“Please let this statement serve to represent, until further notice, that 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,” he wrote.
“These damages may be very substantial but, nevertheless, this is the fair and equitable thing to do,” Trump said.
Frozen Iranian Assets
Iran has faced extensive sanctions and asset freezes from the US and other Western countries since the 1979 Islamic Revolution, which removed the US-backed Shah Mohammad Reza Pahlavi from power.
The restrictions have limited Tehran’s access to some of its overseas assets, including oil revenues held in foreign accounts. While there is no official figure for the total value of frozen Iranian assets worldwide, estimates by media reports have placed the amount between $100 billion and $123 billion.
There is also no confirmed information on the exact amount of Iranian assets currently held or controlled by the US.
Trump’s statement comes after he had earlier warned of “major military punishment” for Iran and its Houthi allies after the Yemeni group claimed responsibility for strikes on two Saudi oil tankers in the Red Sea, following its announcement of a maritime blockade.
“If they do this again, the US will hold Iran responsible, in that the Houthis are a Surrogate and/or Proxy of Iran, and major military punishment will be inflicted upon Iran and, of course, the Houthis, themselves,” Trump wrote on Truth Social.
The exact amount of Iranian assets controlled by the US is not confirmed. President Trump stated that frozen Iranian assets in US possession would be used to pay for damages from strikes in the Gulf region.
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