Washington, July 28: U.S. President Donald Trump has stated that funds controlled by the U.S. from Iran will be utilized to compensate for damages to ships in the Strait of Hormuz during recent conflicts.
During a conversation with reporters aboard Air Force One on Monday, Trump made this announcement. He dismissed suggestions that the U.S. government would use taxpayer money to reimburse shipping companies.
“No, absolutely not. We will use Iran’s money to cover the damages. In other words, the funds from Iran that are under our control will be used for the damages they caused. It’s a good idea, isn’t it? Not bad. You should get credit for that,” Trump said.
However, Trump did not clarify how much Iranian money is under U.S. control, which shipping companies would receive compensation, or the process for these payments.
The President noted that the situation in the Strait of Hormuz has significantly improved following U.S. military actions against Iran. He also mentioned that talks between the U.S. and Iran are ongoing.
“Their entire coastal area has been devastated. The situation in the Strait is now very good, and we are currently in discussions,” Trump stated.
He claimed that during the ongoing negotiations, Iran had requested a halt to attacks. He hinted that if no agreement is reached, the U.S. could resume military actions.
“I think there’s a good chance of an agreement. If it happens, that’s great. If not, we will do what we were doing two days ago,” he added.
Trump also asserted that after significant U.S. military pressure, Iran requested meetings through intermediaries and direct contact.
“They want to meet, and we are meeting. Let’s see what happens. There’s a possibility of an agreement. If we hadn’t taken that action, they wouldn’t even be talking to us,” he remarked.
He compared his policy towards Iran to U.S. actions regarding Venezuela, stating that funds received from Venezuela had been used to cover U.S. expenses, and a similar approach would be taken with Iran.
“We have recouped the costs of that war multiple times, and the same will happen with Iran,” Trump said.
When asked where the funds from Venezuela are being used, Trump replied that they are being utilized for “running the country” and could also be used for military purposes with Congressional approval.
The Strait of Hormuz connects the Persian Gulf to the Gulf of Oman and the Arabian Sea. It is a vital maritime route for the export of crude oil and liquefied natural gas (LNG) from countries in the Gulf region. This route is considered strategically and economically significant for energy-importing nations like India.
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