Trump orders frozen Iranian assets to cover Strait of Hormuz shipping damages
President Trump announced the US will use frozen Iranian assets to cover commercial shipping damages in the Strait of Hormuz following recent military clashes.
US President Donald Trump announced that Washington will utilize frozen Iranian assets to compensate for commercial vessels and cargo damaged in the Strait of Hormuz. The directive targets more than $100 billion in Iranian funds seized globally, including roughly $2 billion under direct US jurisdiction.
The measure follows 13 consecutive nights of US airstrikes against Iranian targets and a naval blockade redirecting commercial shipping. Tehran previously attempted to seal the strategic waterway in response to joint US-Israeli military strikes in early 2026.
The escalation and financial order triggered sharp reactions across global markets. Major stock indices experienced steep declines, while crude oil prices surged past $100 a barrel amid escalating security risks in the Middle East.
Sources: Global Defence Corp
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Earlier coverage
- Jul 25, 2026, 06:30 AM UTCU.S. forces disable ship in Gulf of Oman as blockade enforces asset order