New Delhi, July 24 -- Amidst continuing hostilities between the United States and Iran, US President Donald Trump on Thursday (local time) declared that any damages done to ships and cargo arising from the conflict will be paid using Iranian funds currently frozen and under Washington's control. He made the statement on his Truth Social account, insisting this was the "fair and equitable" way to handle losses.

He said on Truth Social on Thursday (local time), "Please let this statement serve to represent, until further notice, that from any 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 ve...