Trump Threatens to Seize Frozen Iranian Assets for Strait of Hormuz Ship Damage

On July 23, 2026, Trump threatened on Truth Social to use frozen Iranian assets under US control to compensate any future damage to ships and cargo transiting the Strait of Hormuz, calling it "the fair and equitable thing to do." Iran's foreign minister condemned the threat as an "incendiary precedent." The assets, estimated near $100 billion, were central to a now-collapsed June 2026 US-Iran memorandum of understanding.