- US President Announces Plan to Cover Losses to Ships and Cargo from Seized Iranian Funds
WASHINGTON: US President Donald Trump announced on Thursday that the United States will begin using frozen Iranian assets under its control to compensate for damages sustained by ships, cargo, and related property affected by attacks in and around the Gulf region.
In a statement posted on his Truth Social platform, Trump said the policy would remain in effect until further notice, declaring that financial losses linked to maritime incidents would be covered through Iranian funds currently held by the United States.
Compensation to Be Drawn from Frozen Iranian Funds
“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,” Trump wrote.
The announcement signals a significant shift in Washington’s approach to addressing commercial shipping losses amid heightened tensions in the Gulf, where a series of attacks on maritime vessels have raised concerns over regional security and the safety of international trade routes.
Maritime Security Remains a Key Concern
The Gulf remains one of the world’s most strategically important shipping corridors, handling a substantial share of global energy exports and commercial trade. Recent attacks on vessels operating in the region have prompted increased security measures by several countries and shipping companies.
Trump’s statement did not provide details on the legal framework or implementation mechanism for using the frozen Iranian assets, nor did it specify the amount of funds that could be allocated for compensation. The administration has yet to release additional information regarding the policy’s execution.
BY: The Times Union
