Washington, July 28, 2026 (Yes Punjab News)
US President Donald Trump has said that funds belonging to Iran and currently under US control will be used to compensate shipping companies for damage suffered by vessels during the recent conflict in the Strait of Hormuz.
Speaking to reporters aboard Air Force One on Monday, Trump ruled out the possibility of the United States using its own resources to cover the losses. Instead, he said compensation would come from Iranian assets controlled by Washington.
“We’re going to use Iran’s money to pay for the damage they did,” Trump said, adding that the funds under US control would be used to reimburse those affected.
The President, however, did not disclose the amount of Iranian assets available for this purpose, identify the shipping companies that would qualify for compensation, or explain the mechanism through which payments would be made.
Trump also claimed that the security situation in the Strait of Hormuz had improved following recent US military operations against Iran. He said diplomatic contacts between Washington and Tehran were underway and expressed optimism that negotiations could lead to an agreement.
According to Trump, Iran had sought discussions after coming under sustained US military pressure. While expressing hope that a deal could be reached, he warned that military operations could resume if negotiations failed to produce results.
Drawing a comparison with US policy towards Venezuela, Trump asserted that Washington had previously recovered its costs through funds received from that country and expected a similar outcome in the case of Iran.
The Strait of Hormuz remains one of the world’s most strategically significant maritime corridors, serving as the primary route for oil and liquefied natural gas exports from Gulf producers to international markets, including major energy importers such as India.
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