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US President Donald Trump said the United States will use Iranian funds under its control to pay for future damage to ships, cargo and related property as the conflict involving Washington, Tehran and Iran-backed groups threatens to further disrupt key global shipping routes.
“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 a post on Truth Social on Thursday.
“These damages may be very substantial but, nevertheless, this is the fair and equitable thing to do,” he added.
Trump did not specify which incidents would qualify for compensation from Iranian assets held under US control, or how such a mechanism would be implemented.
His remarks came as US forces continued strikes against Iranian targets and Iran-backed Houthi militants claimed attacks on two Saudi oil tankers in the Red Sea.
Trump threatens Iran over Houthi attacks
Trump separately said Iran would be held responsible for future attacks by the Houthis, describing the Yemeni group as an Iranian “surrogate and/or proxy”.
“The Houthis are a Surrogate and/or Proxy of Iran, and major military punishment will be inflicted upon Iran and, of course, the Houthis, themselves,” Trump wrote.
The warning followed the Houthis’ claim that they had targeted two Saudi-flagged tankers, the Encelia and Layla, using ballistic missiles, cruise missiles and drones.
The group said the vessels had violated a naval blockade it claims to have imposed on Saudi shipping.
Saudi state media later reported that an attack caused a fire on the bow of the Encelia. All crew members were reported safe. Maritime security reports said the tanker had issued a distress call after being struck by a projectile near Saudi Arabia’s Jizan port.
The Houthis’ latest attacks have raised concerns that the US-Iran conflict could open another front around the Red Sea, a vital route for global trade and energy shipments.
Oil prices surged towards $100 a barrel on Thursday as the attacks heightened fears of a broader disruption to shipping. Several tankers also changed course after Houthi warnings against vessels sailing towards Saudi ports.
Red Sea threat adds to Strait of Hormuz crisis
The latest attacks come as commercial shipping is already facing severe disruption around the Strait of Hormuz.
The strategic waterway connects the Persian Gulf with the Gulf of Oman and is one of the world’s most important energy corridors. Any prolonged disruption to shipping through the strait could affect crude oil, petroleum products and other commodities moving from the Gulf to global markets.
The Red Sea and Bab al-Mandeb provide another critical maritime route, linking the Indian Ocean with the Suez Canal and the Mediterranean.
The emergence of simultaneous threats in both regions has raised concerns about longer shipping routes, higher freight costs, rising war-risk insurance premiums and further pressure on global energy prices.
War-risk insurance costs for vessels travelling through the southern Red Sea have risen sharply following the latest Houthi attacks, according to maritime insurance market data.
US expands military pressure on Iran
Trump’s comments came as the United States continued its military campaign against Iran.
US Central Command said American strikes had targeted Iranian military operations centres, maritime capabilities, aircraft hangars, drone storage facilities and military logistics infrastructure.
The US has also targeted bridges that Washington says Iran’s military uses to resupply a naval base near the Strait of Hormuz.
CENTCOM said it had redirected 12 commercial vessels and disabled another ship since the US blockade of Iranian ports was reintroduced.
The US has also increased its military presence in the region, with additional aircraft, special-operations forces and medical personnel deployed to support its operations.
The escalation has raised concerns that the conflict could widen beyond direct US-Iranian attacks and draw in Iran-backed groups operating in Yemen and elsewhere in the region.
US Secretary of State Marco Rubio blamed Tehran for the Houthis’ latest attacks, saying the group had largely stayed out of the conflict before targeting Saudi shipping.
“The Houthis largely were smart and stayed out of all this throughout the conflict, but they now apparently have gotten themselves suckered into this, going after Saudi Arabia and their ships,” Rubio said at a summit in Manila.
Iran has shown no signs of backing down and has continued to threaten US forces and American partners in the Gulf.
Trump’s latest warning that Iranian assets could be used to cover damage to ships and cargo marks a further escalation in Washington’s attempt to hold Tehran financially responsible for attacks carried out by groups the US says are backed by Iran.
With inputs from agencies.
