Washington DC, July 24 -- Amid continued hostilities between the US and Iran, President Donald Trump on Thursday said that any damages done to ships and cargo will be paid by the Iranian money in possession and control of Washington.

He made the remarks in a post on Truth Social and called it a "fair and equitable" step.

"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. These damages may be very substantial but, nevertheless, this is the fair and equitable thing to do. Thank you for your attention to this matter!" he said on Tru...