Trump: Iranian funds to cover vessel damages

U.S. President Donald Trump threatened Iran and its Houthi allies with a major military response after the Houthis attacked two Saudi oil tankers in the Red Sea. This has led to increased regional tensions and a rise in global oil prices to their highest level since May, amid the deterioration of the Yemen ceasefire and the Houthis imposing a blockade on Saudi Arabia, which could close the Bab al-Mandeb Strait and impact global energy shipments. Trump also announced that damages to the ships would be paid for using frozen Iranian funds, amidst an escalation of U.S. military actions against Iran.

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