Trump: Iranian funds to cover ship damages
U.S. President Donald Trump confirmed that any damage to ships or cargo in the region will be compensated from the Iranian funds held by the United States. This statement came after Iran-backed Houthi rebels targeted Saudi vessels in the Red Sea, leading to a rise in oil prices to $100 per barrel for the first time since May. This development occurs amid ongoing military escalation in the area and ongoing exchanges of attacks on ships, with difficulties in determining the value of the frozen Iranian assets due to their dispersal across multiple financial networks. Nonetheless, the release of these assets had been a key point in a non-binding agreement between Washington and Tehran in June.
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