US to Use Frozen Iranian Assets for Hormuz Shipping Damages

Jul 27, 2026

62 min

Jul 27, 2026 23:31

US will use frozen Iranian assets to cover damages from shipping attacks in Hormuz: Trump

## Trump's Plan for Iranian Assets

President Donald Trump has announced a plan to use Iranian funds, currently frozen under US control, to cover damages from recent attacks on commercial shipping in the Strait of Hormuz. This decision aims to hold Iran accountable without impacting American taxpayers.

## Details and Reactions

The US Treasury Department is finalizing the specifics, including the extent of damages and the total amount of Iranian assets to be used. Treasury Secretary Scott Bessent has been working on this proposal, assessing costs related to ship repairs and cargo losses.

Supporters of the plan view it as a direct way to make Iran pay for its actions, while critics warn it might reduce US leverage in broader negotiations with Iran. The move reflects Trump's ongoing tough stance on Iran, which has included reimposing sanctions and maintaining pressure on Tehran.

## Ongoing Tensions

The announcement comes amid heightened tensions in the Gulf, with Iranian forces or proxies linked to attacks on vessels in a crucial oil shipping route. While there are no immediate signs of military escalation, Trump has previously warned of strong military responses if threats continue.

The situation remains volatile, with global energy markets closely monitoring potential disruptions to vital shipping routes.

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