President Donald Trump announced that the United States will use frozen Iranian funds to compensate for damages to American ships and cargo resulting from Iranian attacks.
In a post on his social media platform Truth Social on July 23, Trump stated, "All damages occurring to ships, cargo, or anything related will be compensated with the Iranian funds that the U.S. holds and manages." He added, "The scale of the damages could be very large, but this is a fair and equitable measure."
This statement implies that compensation for damages incurred by ships and cargo due to Iranian attacks will be paid from frozen Iranian assets. However, Trump did not clarify whether the compensation would be paid directly to shipping companies.
Since July 6, at least 11 vessels transiting the Strait of Hormuz have reportedly been attacked by Iran, amid rising tensions between the U.S. and Iran.
Currently, Iran's frozen assets abroad are estimated to total $100 billion, with the U.S. managing approximately $2 billion of that amount in the region. The release of these frozen funds was included in a memorandum of understanding (MOU) signed by both countries last month, where Iran demanded the release of its frozen assets in subsequent negotiations, while the U.S. has insisted on the freedom of navigation in the Strait of Hormuz.
Despite Trump's comments, the actual use of frozen Iranian funds for compensating damages to ships and cargo remains uncertain. Bloomberg reported that "the use of frozen Iranian funds is a highly controversial issue," noting that victims of Iranian-related terrorism have also urged Trump to use these funds for their compensation.
Additionally, in an interview with the U.S. online media Axios, Trump mentioned that he is considering a "large-scale attack" on Iran, stating, "It could be bigger than any attack we've seen before."
* This article has been translated by AI.
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