Iran warns of blocking vessels if frozen assets used for damages

Iran on Tuesday warned that it will block the passage of commercial vessels belonging to companies and countries that use its frozen assets to compensate damages linked to the recent conflict in West Asia, reported ANI.

According to a statement issued by the spokesperson for Iran's Khatam al-Anbiya Central Headquarters and carried by Iranian state media, Islamic Republic of Iran Broadcasting (IRIB), Iran slammed the United States of seeking to use its frozen assets to compensate for vessels damaged during what Tehran described as the "imposed war" against the Islamic Republic.

"The US President has announced that in the wake of aggressive actions and continued efforts to destabilise the region," the statement said.

Referring to the US plans to use Iranian assets, the spokesperson stated that compensation for vessels damaged during the conflict would be drawn from Iran's frozen funds.

"The damages to vessels that were damaged during the imposed war against Islamic Iran due to the creation of insecurity by the US military and the violation of the illegal and unsafe route south of the Strait of Hormuz will be paid from Iran's frozen assets," the statement said.

The spokesperson warned that if any country or company acted on such plans, Iran's armed forces would prevent their vessels from transiting the Strait of Hormuz.

"While warning the criminal US President about the consequences of this illegal action, we announce to all companies and countries that welcome Trump's proposal and use Iran's frozen assets under this title that from now on, the armed forces of the Islamic Republic of Iran will not allow any of their vessels to pass through the Strait of Hormuz," the statement said, as quoted by IRIB.

The remark comes after US President Donald Trump, in a post on Truth Social, said that any future damages caused to ships, cargo or related maritime assets would be paid for using Iranian money held and controlled by the United States.

"Please let this statement serve to represent, until further notice, that from this point forth, any and all damages done to Ships, Cargo, or anything related thereto, will be paid for by Iranian Money that the United States has in its possession, and controls," Trump said in his post.

He added that the damages "may be very substantial" but described the move as "the fair and equitable thing to do."

Iran's Foreign Minister Seyed Abbas Araghchi slammed Trump's plan to use Iranian assets held by Washington to compensate for damages to ships and cargo transiting through strategic maritime waterways in West Asia, calling the move an "incendiary precedent".

In a post on X, Araghchi warned that confiscating another country's assets to settle unrelated claims would undermine international norms and create wider instability.

"Seizing another nation's assets to pay for unrelated future claims is an incendiary precedent. Those who celebrate or profit from such funds should remember: once governments normalise confiscation, no one's assets are safe. Ensuing chaos will not be pretty or peaceful," the post read.

Iran, Ukraine pledge to avoid escalation after attack on Iranian ship

Iran's Foreign Minister Seyed Abbas Araghchi said on Tuesday that his Ukrainian counterpart, Andrii Sybiha, has assured him that Ukraine's Saturday attack on an Iranian commercial ship was "unintentional" and that Ukraine "does not seek escalation," reported Xinhua.

In a post on social media platform X following a phone call earlier in the day with Sybiha, Araghchi said that "Iran does not seek escalation either, but made clear any attack on our citizens or interests is unacceptable. There must be restitution for losses."

In a post on X earlier in the day, Sybiha confirmed the call, calling it "a frank conversation." He noted that, "Diplomacy is about direct conversation, even when it's difficult" and stressed that "our goal is to avoid unnecessary escalation."

Sybiha said he had reiterated that all of Ukraine's actions were "aimed solely at defending our country" and "never intended to target civilian vessels or people."

He also emphasized "the necessity to refrain from any escalatory steps."

The Iranian Foreign Ministry condemned the attack in a statement on Saturday, saying that it led to the vessel's explosion and a sailor's death.

The semi-official Mehr news agency on Sunday reported that three sailors were also injured in the attack.

Ukrainian President Volodymyr Zelensky said on Saturday that his country's forces had hit a Russian warship and vessels used for transporting Iran-linked military cargo in the Caspian Sea.

Saudi Arabia, Iran, Oman call for joint efforts to secure Hormuz

Iran, Oman and Saudi Arabia have called for intensifying joint diplomatic efforts to ensure the security of the Strait of Hormuz, the Iranian foreign ministry said Tuesday, reported Xinhua.

The issue was highlighted in separate phone calls Monday night between Iranian Foreign Minister Seyed Abbas Araghchi and his Omani and Saudi counterparts, Sayyid Badr bin Hamad Al Busaidi and Prince Faisal bin Farhan Al Saud, the ministry said in a statement.

The three ministers stressed the need to enhance cooperation and promote joint diplomatic efforts to ensure regional stability and "eliminate the insecurity imposed on the Strait of Hormuz as a consequence of the U.S. acts of aggression," the statement said.

The discussions came after Iran and Oman held talks in Tehran on Friday and Saturday on safe navigation through the strait, with the two sides exchanging views on the principles and mechanisms for managing shipping traffic while respecting the sovereign rights of coastal states, Iranian Foreign Ministry spokesman Esmaeil Baghaei said Sunday.

The U.S. military launched multiple waves of strikes against Iran in recent days, while Tehran responded with missile and drone attacks on U.S. bases and facilities in the region. The clashes have since subsided.