"It's not our money": Trump defends unfreezing of Iranian assets
Evian, June 18
US President Donald Trump has defended the return of frozen Iranian assets as part of the evolving diplomatic process with Tehran, arguing that permanently withholding another country's funds could undermine global confidence in the US dollar and the international financial system.
Speaking to reporters on the sidelines of the G7 Summit in France, Trump said that while the United States had frozen significant Iranian assets.
"The unfreezing... we have taken a lot of their money. And we have their money. We have taken their money, it's not our money, it's their money. And we froze it. At a certain point in time, I guess we're going to have to give it back. You know, if we didn't give it back, nobody would ever invest in the dollar again," Trump said.
The President suggested that while retaining the funds might appear attractive from a political standpoint, doing so could have long-term consequences for the credibility of the US financial system.
"I thought about it. I'm not the most perfect person. I said, 'What if we keep their money? What the hell are we giving it back to them?' But people from lots of nations, some nations we don't agree with, they have their money, the dollar's become very strong under me, and they don't want to have a little conflict with somebody and end up having the United States just take their money," Trump stated.
"So if you do that, you really don't have a system," he added.
Meanwhile, US President Donald Trump and Iranian President Masoud Pezeshkian have virtually signed a 14-point memorandum of understanding (MoU) aimed at ending hostilities between the two countries, reopening the Strait of Hormuz, and launching a 60-day process to negotiate a final agreement on sanctions and Iran's nuclear programme.
According to CNN, the US will make fully available for use the frozen or restricted funds and assets of the Islamic Republic upon the implementation of this MoU. Both nations will mutually agree on the procedures related to the release of these funds during negotiations.
— ANI
Reader Comments
"It's not our money" - finally some honesty from a US leader. India has seen this double standard before. When our assets were frozen during sanctions, they didn't say this. But good on Trump for recognizing economic reality. The dollar's strength depends on trust, not bullying.
Interesting how Trump frames this as preserving the system rather than doing a favor for Iran. The 14-point MoU sounds ambitious though - reopening Hormuz and tackling the nuclear issue in 60 days? That's going to be a tough negotiation.
From an Indian perspective, this is good news. Stable Iran means stable oil prices and less tension in the Gulf. Our diaspora there breathes easier too. But let's see if this actually holds - American promises have a way of changing with administrations. 😅
Respectfully, I'm skeptical. Trump says it's "their money" now, but what about the billions India has lost in frozen deposits and delayed payments over the years? The US financial system works great when it benefits America. This feels like posturing before the election.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.