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// DOSSIER — iran-threatens-strait-hormuz-blockade-us-frozen-assets
Iran Threatens Strait of Hormuz Blockade Over US Plan to Use Frozen Assets
REL_TIME: 29 Jul 2026 07:12Z · LANG: EN
Iran has issued a formal warning that it will bar any country or shipping company from transiting the Strait of Hormuz if they accept compensation from frozen Iranian assets. This escalation follows a proposal by US President Donald Trump to use seized Iranian funds to reimburse maritime entities for damages incurred during recent regional hostilities. While Trump characterizes the move as a 'fair and equitable' way to address shipping losses without using US government funds, Iranian military and diplomatic officials have condemned the plan as an 'illegal' and 'incendiary' precedent, asserting that the damages were actually caused by US-led insecurity in the region.
// Background
The dispute occurs amidst a broader 'Strait of Hormuz crisis' involving military confrontations between Iran, the US, and Israel. The Strait is a vital global energy corridor, and Iran has frequently leveraged its control over the waterway during negotiations regarding international sanctions and frozen assets. The current tensions follow what Tehran describes as an 'imposed war' and recent US military operations in the region.
// Key Developments
- President Trump announced that frozen Iranian assets held by the US will be used to compensate shipping companies for damages to vessels and cargo.
- Colonel Ebrahim Zolfaqari of Iran’s Khatam al-Anbiya Central Headquarters warned that any vessel linked to entities accepting these funds will be denied passage through the Strait of Hormuz.
- Iran's Foreign Minister Seyed Abbas Araghchi described the US plan as an 'incendiary precedent' that undermines international norms and asset security.
- The US maintains that the Strait is in 'very good shape' following military operations, while Iran claims the US created the insecurity that led to the damages.
- Market analysts suggest a 32% probability that Iran will implement transit fees or further restrictions in the Strait by late August 2026.
// Timeline
-
President Trump posts on Truth Social stating that Iranian money controlled by the US will pay for maritime damages.
-
Trump confirms the plan to reporters on Air Force One, rejecting the use of US government funds for compensation.
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Iran’s Khatam al-Anbiya Central Headquarters issues a statement threatening to block the Strait of Hormuz for participating entities.
-
Foreign Minister Araghchi and state media outlets (IRNA, IRIB) formalize the condemnation of the US proposal.
// Perspectives
[United States Government]
Argues that using frozen Iranian funds is a just method to compensate for maritime damages caused by Iran without utilizing US taxpayer money.
[Iranian Military (Khatam al-Anbiya)]
Views the US plan as illegal and asserts that maritime damages were the result of US military presence and the use of unsafe shipping routes.
[Iranian Foreign Ministry]
Condemns the move as a violation of international norms that will lead to global financial chaos and asset insecurity.
// Quotes
“We're going to use Iran's money to pay for the damage they did. In other words, Iran money that we control will be used to pay for damages. Sound good? Not bad, right? You should be rewarded.”
“The armed forces of the Islamic Republic of Iran will not allow any of their vessels to pass through the Strait of Hormuz.”
“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 normalise confiscation, no one's assets are safe.”
