Trump Says Ship Losses to Be Compensated From Iran's Frozen Funds

International|
| Updated 2026.07.24. 08:20:16
|
By Lee Tae-kyu, Washington Correspondent
||
U.S. President Donald Trump speaks at an event in Washington, D.C., on Sept. 23 (local time). AFP/Yonhap - Seoul Economic Daily International News from South Korea
U.S. President Donald Trump speaks at an event in Washington, D.C., on Sept. 23 (local time). AFP/Yonhap

U.S. President Donald Trump said on Sept. 23 (local time) that he would compensate for future ship losses using frozen Iranian funds.

In a post on Truth Social, Trump wrote, "From this point forward, any damage to ships, cargo, or anything related thereto will be compensated through Iranian funds held and controlled by the United States." He stressed that "although the damages could be very substantial, this is nevertheless a fair and equitable measure."

Iran and the Houthi rebels have been launching successive attacks on oil tankers in the Strait of Hormuz and the Red Sea, respectively. By pledging to cover the resulting damages with Iran's frozen funds, Trump appears to be seeking to halt Iran's attacks.

#Trump#Iran#StraitOfHormuz#RedSea#Houthi#OilTankers#FrozenFunds

Original reporting by Lee Tae-kyu, Washington Correspondent for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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