US Strikes Iran for 13th Night as Trump Vows to Use Frozen Assets for Ship Damage Compensation

The United States escalated its military actions against Iran for the thirteenth night in a row, as President Donald Trump vowed "major military punishment" against Iran and the Houthis. This response is in retaliation for attacks carried out in the Red Sea.

Trump declared that any losses or damages to ships, cargo, or related assets from Iranian attacks in the Gulf region would be compensated using frozen Iranian assets under U.S. control. He issued a formal announcement stating that "from now on and until further notice, any damage caused to ships, cargo, or any related property will be compensated from Iranian funds held and controlled by the United States."

This announcement follows the U.S. military's resumption of its maritime blockade on Iranian ports on July 15. The blockade was a direct response to repeated attacks attributed to Iran against shipping in the Strait of Hormuz. The Houthis have also blocked the Bab el-Mandeb Strait, a critical route for global energy supplies, mirroring the de facto blockade of the Strait of Hormuz by Tehran in response to U.S. and Israeli airstrikes.

The prospect of further disruptions to oil supplies has driven crude oil prices above $100 a barrel, a two-month high. Trump stated he would hold Iran responsible for any Houthi attacks, following claims by the Houthis of striking two Saudi oil tankers. Iranian state media reported a missile strike on Qeshm Island in the Strait of Hormuz on Thursday evening.