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macroJul 23, 2026, 10:47 PM

Trump: Iranian Funds Held by US Will Pay for Any Damages to Ships

President Trump announced that any damages to ships, cargo, or related items will be covered by Iranian funds currently held by the United States "from this point forth."

President Trump stated on social media that any and all damages inflicted on ships, cargo, or any associated property will be paid for using Iranian funds that the US has in its possession, effective immediately.

The announcement signals a potential escalation of economic pressure on Iran, with the US leveraging frozen assets as a tool for compensation. The exact scope of ships or incidents covered remains unspecified.

The statement comes amid ongoing tensions in the region and could impact shipping insurance costs and geopolitical risk premiums in oil markets.

Source: The Kobeissi Letter