Image for representation purposes only U.S. President Donald Trump said on Thursday the United States would use Iranian funds under its control to pay for damage to ships, cargo and related property. “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 wrote on Truth Social. “These damages may be very substantial but, nevertheless, this is the fair and equitable thing to do,” he added. Trump did not say how the payments would work, which incidents would qualify or whether shipping companies would be compensated directly. Billions of dollars in Iranian assets remain frozen under U.S. sanctions, although estimates of the total amount range from about $24 billion to $100 billion, with much of the money held outside the United States. Trump made the remarks as U.S. forces continued strikes on Iranian targets and Washington warned it would hold Tehran responsible for any future Houthi attacks on commercial shipping. The U.S. president said Iran and the Houthis would face “major military punishment” if the Yemen-based group carried out more attacks on ships, calling the Houthis an Iranian “surrogate and/or proxy.” The warning followed the Houthis’ claim that they attacked two Saudi oil tankers, Encelia and Layla, using ballistic missiles, cruise missiles and drones. The group said the vessels had violated a naval blockade on Saudi-linked shipping. Saudi state media later reported that the attack caused a fire on the bow of Encelia, while all crew members were reported safe. Maritime security reports said the tanker issued a distress call after being struck near Saudi Arabia’s Jizan port. The Houthis also said they had closed the Bab el-Mandeb Strait to Saudi-linked shipping in response to Saudi Arabia