Trump Threatens Frozen Iranian Assets as Collateral for Strait of Hormuz Shipping

On July 23, 2026, Trump said on Truth Social he would use frozen Iranian assets — roughly $100 billion held under US control — to cover any future damage to ships crossing the Strait of Hormuz. Iran's foreign minister called the threat an "incendiary precedent." Those assets were central to a US-Iran deal that collapsed in June 2026.