Iranian Foreign Minister Seyed Abbas Araghchi has leveled scathing accusations against U.S. Secretary of War Pete Hegseth, seizing on reports of an attempted multimillion-dollar defense investment to frame the ongoing conflict as a cynical “war of choice” for profit.

‘America First’ Under Fire

In a provocative social media post late Tuesday, Araghchi used a Financial Times report to attack the ethical foundations of the Donald Trump administration's foreign policy.

The Foreign Minister suggested that the alleged attempt by Hegseth's broker to buy into a defense fund while planning military action exposed a deeper, predatory motive behind the hostilities.

“Nothing says ‘America First’ like launching a war for a foreign regime while trying to profit as young soldiers are sent off to die,” Araghchi wrote. He further characterized the five-week-old conflict as a “war of choice” that has been “imposed on both Americans and Iranians.”

The Profiteering Allegations

The diplomatic firestorm follows claims that Hegseth's wealth manager at Morgan Stanley (NYSE:MS) approached BlackRock Inc. (NYSE:BLK) in February to invest in the iShares Defense Industrials Active ETF (NASDAQ:IDEF).

The fund tracks major contractors such as Lockheed Martin Corp. (NYSE:LMT), RTX Corp. (NYSE:RTX), and Northrop Grumman Corp. (NYSE:NOC), firms whose valuations are directly tied to Department of War expenditures.

While the Financial Times reported the trade was aborted because the fund was unavailable on the broker’s platform, the mere intent has given Tehran a potent propaganda tool.

Araghchi's comments aim to drive a wedge between the U.S. leadership and the American public by highlighting the contrast between high-level financial maneuvers and the reality of ground operations.

A War Of Words

The Pentagon has moved swiftly to contain the fallout. Chief Spokesman Sean Parnell previously dismissed the investment report as “entirely false and fabricated” and a “dishonest smear.”

Meanwhile, President Trump hinted at ending the U.S. military campaign against Iran even if the Strait of Hormuz remains largely closed. Additionally, Iran's President Masoud Pezeshkian declared the Islamic Republic is ready to end the war but demanded guarantees from the United States.

However, the Iranian Ministry of Foreign Affairs indicated that these financial allegations may be raised in future international briefings to challenge the legitimacy of the U.S. military campaign.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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