Iran warns US against seizing assets for shipping claims

Iranian Foreign Minister Seyed Abbas Araghchi issued a sharp rebuke on Friday against US plans to seize Iranian assets to pay for shipping claims. In a post on X, Araghchi stated that "seizing another nation's assets to pay for unrelated future claims is an incendiary precedent," cautioning that "those who celebrate or profit from such funds should remember: once governments normalize confiscation, no one's assets are safe. Ensuing chaos will not be pretty or peaceful."

The warning comes amid heightened tensions between Iran and the United States. Two weeks ago, the Islamic Republic declared the Strait of Hormuz closed "until further notice" after US military conducted aerial assaults on Iran and imposed a blockade of Iranian ports. The US has claimed control over the strait and has been misleading vessels into passing through an unsafe route, causing them to suffer explosions.

The asset seizure threat is the latest in a series of provocations by US President Donald Trump. He recently threatened that the United States "will bomb and destroy ONE BRIDGE OR POWER PLANT" inside Iran for every attack on a ship in the Strait of Hormuz. Trump also vowed to hold Iran accountable for any attacks by Yemen's Ansarullah in the Red Sea, pledging "major military punishment."

This is not the first time Washington has targeted Iran's assets. The US has a documented history of seizing Iranian oil cargoes. In one prominent case, the US seized over 2 million barrels of Iranian crude oil from the tanker MT Achilleas and sold it for $110 million. Further incidents include the seizure of nearly 1 million barrels from the Suez Rajan in 2023, with Iran's Foreign Ministry spokesman labeling such actions "a clear example of piracy."

According to Mehr News, Araghchi's comments underscore Tehran's view that such actions constitute outright piracy and set a dangerous precedent for international norms.