US President Donald Trump has announced that frozen Iranian assets under US control will be utilized to compensate for damages incurred by vessels and cargo. This decision comes as a direct response to escalating maritime security concerns.
According to Operative Information Center-OMM, citing international media reports, President Trump stated: "From this moment forward, until further notice, any damage to ships, cargo, or related assets will be covered by Iranian funds under US control. This damage could be significant, but this is a fair and proportionate step."
The announcement follows a series of attacks on Saudi Arabian vessels in the Red Sea, attributed to the Iran-backed Houthi group. In the wake of these incidents, oil prices surged to $100 per barrel on July 23, marking the highest level since May of this year. Analysts note that these maritime disruptions highlight the vulnerability of global energy supply chains passing through critical chokepoints like the Red Sea and the Strait of Hormuz.
Reports indicate that approximately $2 billion in Iranian assets are currently frozen within the United States, with estimates suggesting that the total value of frozen Iranian assets globally could reach $100 billion. The unfreezing of these assets was a key provision of a memorandum of understanding signed between Iran and the US in June. However, that agreement collapsed in July after Washington resumed strikes against Iran, citing Tehran's involvement in firing upon vessels in the Strait of Hormuz.
