Trump says using frozen Iranian funds for war damages is "the fair and equitable thing to do"

The United States and Iran continue exchanging strikes over control of the Strait of Hormuz, with explosions near a US base in Iraq and Houthi rebels threatening additional shipping lanes. As oil prices surpassed $100 a barrel, President Donald Trump posted on social media that any damages to ships or cargo from the conflict would be paid for using frozen Iranian funds held by the US, calling this approach the proper way to handle it. It was not clear how he would legally access that money. Iran's foreign minister Abbas Araghchi rejected the idea, arguing that normalizing asset seizures would create disorder.