Washington, July 24 (UNI) U.S. President Donald Trump on Friday declared that any damage caused to commercial ships or cargo during the escalating conflict with Iran should be compensated using frozen Iranian assets held under US control, while signalling that Washington would continue its military campaign against Tehran rather than pursue an immediate ceasefire.
“Any damage done to ships or cargo will be paid for by Iranian money that the United States has in its possession, and controls,” Trump wrote on his Truth Social platform.
“These damages may be very substantial, but nevertheless, this is the fair and equitable thing to do,” he added.
Trump’s remarks came a day after Iran-backed Houthi rebels targeted Saudi ships in the Red Sea, contributing to a surge in global oil prices to around $100 a barrel.
The attacks on ships in the Red Sea added to disruptions already caused by attacks in the Strait of Hormuz.
The fate of billions of dollars in frozen Iranian assets has long been one of the most contentious issues between Washington and Tehran. Their release formed a central element of the memorandum of understanding (MoU) signed by the two countries in June, but that agreement has effectively unravelled as hostilities escalated and both sides resumed military action.
The U.S. president also dismissed the prospect of an immediate ceasefire with Iran, arguing that sustained military pressure was necessary.
“We’re doing very well against the Islamic Republic of Iran, we’re doing extremely well,” Trump told reporters during an appearance at the Environmental Protection Agency.
“They would like to do something, but I say they’re not ready yet. They need more of the same,” he said.
Trump accused Iran’s leadership of harbouring “some evil intentions” and reiterated his long-standing position that Tehran would never be allowed to develop a nuclear weapon.
The remarks came as the U.S. military launched its 13th consecutive night of strikes against targets inside Iran.
In a statement posted on X, U.S. Central Command (CENTCOM) said the latest operation began at 6:45 p.m. ET and was aimed at “holding Iran accountable and diminish threats from the Islamic Revolutionary Guard Corps to commercial shipping.”
Later, CENTCOM announced that the strikes had concluded at 9 p.m. ET, saying U.S. forces had targeted “Iranian military command centers, drone storage facilities, communication networks, coastal surveillance sites, and maritime capabilities to further diminish the threat Iran poses to civilian mariners and commercial vessels transiting the Strait of Hormuz.”
The military did not disclose the number of targets struck or provide an assessment of the damage.
The latest U.S. operations follow more than a week of sustained airstrikes after Iran began attacking vessels transiting the Strait of Hormuz, one of the world’s busiest energy shipping routes. Washington has also reimposed a naval blockade on Iranian shipping in the strategic waterway, further escalating the conflict.
The widening regional confrontation has rattled global energy markets. Crude oil prices climbed above $100 a barrel for the first time since May after Houthi attacks in the Red Sea threatened another major maritime route for oil exports, compounding disruptions caused by the effective closure of the Strait of Hormuz.
The conflict has also triggered political divisions in Washington. The U.S. House of Representatives voted in favour of a measure seeking to halt military operations against Iran without congressional approval, although a similar resolution failed in the Senate.
While the votes were not binding on the administration, they underscored growing unease among some lawmakers, including Republicans, over Trump’s use of presidential war powers.
Despite mounting international concern over the risk of a wider regional war, Trump indicated there would be no easing of military pressure on Tehran, insisting Iran was “not ready” for negotiations and that continued strikes remained the preferred U.S. course of action.
