July 24 (UPI) — The United States and Iran traded attacks Thursday night and Friday morning, as President Donald Trump announced that damage inflicted by Iran on ships transiting the Strait of Hormuz would be paid with U.S.-held Iranian assets.

U.S. Central Command said its latest wave of attacks, which were completed at 9 p.m. EDT Thursday, lasted for about two hours, 15 minutes, during which its forces hit Iranian military command centers, drone storage facilities, communications networks, coastal surveillance sites and maritime capabilities.

State-run Islamic Republic of Iran Broadcasting reported explosions early Friday local time across the country, with strikes in Ahvaz, Bandar Abbas, Omidiyeh, Qeshm and Andimeshk. Officials in Bandar Abbas reported that two people were injured.

Explosions were also reported by the IRIB in southern Khorramabad.

The Iranian Army announced retaliatory drone strikes on U.S. bases in Jordan and Bahrain.

Bahrain’s Ministry of Interior said sirens were sounding. It urged residents to remain calm and seek shelter.

The United States has been hitting Iran for nearly a fortnight as it seeks to regain freedom of navigation of the Strait of Hormuz, a vital energy route that Iranian forces have tried to seize amid the war by attacking commercial tankers that try to transit it.

Maritime traffic freely flowed through the Hormuz until the United States and Israel attacked Iran in late February. Iran responded with its maritime blockade of the chokepoint, causing gas prices to spike and threatening nations with an energy crisis.

Mid-June, the United States and Iran signed a memorandum of understanding to lay foundations to end the war, but fighting resumed earlier this month over a dispute over what the agreement meant for control of the strait. Iran says the agreement recognizes its authority over Hormuz transit. Washington says Tehran committed to freedom of navigation.

CENTCOM said Thursday, as it has after the completion of each new wave of attacks, that it was seeking to further degrade Iran’s ability to attack vessels transiting the Hormuz.

“The international waterway remains open for transit despite recent attacks from Iran’s Islamic Revolutionary Guard Corps,” the statement said.

“Commercial vessels continue to free navigate the strait with U.S. military support.”

Late Thursday, President Donald Trump announced online that damage ships incur while traveling the Strait of Hormuz would be paid by for with the hundreds of millions of dollars in Iranian assets that the United States has frozen via sanctions.

“These damages may be very substantial but, nevertheless, this is the fair and equitable thing to do,” he said in a statement.

Iranian Foreign Minister Seyed Abbas Araghchi lashed out in response online, warning the international community that “Seizing another nation’s assets to pay for unrelated future claims is an incendiary precedent.”

“Those who celebrate or profit from such funds should remember: once governments normalize confiscation, no one’s assets are safe,” he said in a statement.

“Ensuing chaos will not be pretty or peaceful.”