Shafaq News- Tehran/ Washington

Iranian Foreign Minister Abbas Araghchi on Friday warned that US President Donald Trump's proposal to use frozen Iranian assets to compensate for future damage to commercial shipping would set "an incendiary precedent."

Araghchi said that those who celebrate or profit from such funds should remember that once governments normalize confiscation, “no one's assets are safe.”

Seizing another nation's assets to pay for unrelated future claims is an incendiary precedent.Those who celebrate or profit from such funds should remember: once governments normalize confiscation, no one's assets are safe. Ensuing chaos will not be pretty or peaceful.

— Seyed Abbas Araghchi (@araghchi) July 24, 2026

Earlier, Trump noted that any future damage to ships, cargo or related property would be compensated using Iranian assets under US control.

He added that the damages "may be very substantial" but argued that using the frozen Iranian funds would be "the fair and equitable thing to do."

On July 7, missiles struck commercial vessels transiting the waterway, including a liquefied natural gas carrier and an oil tanker, prompting US retaliatory strikes on Iranian military targets. Days later, two oil tankers caught fire south of the strait after explosions that Iran's Islamic Revolutionary Guard Corps attributed to mines laid along a shipping route, while Washington continued targeting Iranian military infrastructure.