New Delhi, July 24 -- TEHRAN - Abbas Araghchi did not waste words. When Donald Trump proposed on Thursday that Iran's frozen assets - more than $100 billion held by the United States since 1979 - could be redirected to compensate shipping companies for losses in the Strait of Hormuz, the Iranian foreign minister called the idea "incendiary" and offered a precise warning about where it would lead. "Once governments normalize confiscation," Araghchi said, "no one's assets are safe."

Trump made the statement on Truth Social, describing the use of Iranian-held funds as "the fair and equitable thing to do" to compensate for maritime losses in the Hormuz corridor. Al Jazeera reported that the proposal elevates the financial dimension of a conf...