What specific source of funds did Trump announce would be used to compensate for ship and cargo damage caused by Houthi strikes?

Trump announced that 'Iranian Money that the United States has in its possession, and controls'—specifically, Iranian funds frozen by the US—would be used to pay for 'any and all damages done to Ships, Cargo, or anything related thereto.'

What event prompted Trump's announcement about using frozen Iranian funds for compensation?

The announcement followed new strikes by Iranian-backed Houthi rebels, which further strained global energy flows and included attacks on two Saudi Arabian oil tankers, widening the conflict between the US and Iran.

Trump Announces Use of Frozen Iranian Funds for Ship Damage Compensation

Jul 23, 2026

President Trump declared frozen Iranian funds would cover damages to ships and cargo hit by Houthi rebels. The escalation follows attacks on Saudi oil tankers, further straining global energy flows.

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