The U.S. government will attempt to redirect Iranian assets to Gulf states for rebuilding and repairs of damage caused by Iran, including future destruction expected to be inflicted by Tehran, a source familiar with the matter said on Saturday. The move comes a day after a wave of attacks by Iran against Kuwait and Bahrain.
U.S. Treasury Secretary Scott Bessent has also directed a team to assess costs for damage already inflicted on Gulf allies by Iran. The United States will consider using Iranian assets for those repairs as well, according to the source.
The source did not specify what kind of assets the Treasury was examining. The language used to describe the new measures did not appear limited to frozen assets, suggesting that the U.S. could examine a broader range of Iranian financial holdings.
The Trump administration is seeking to steer Iranian assets toward helping U.S. allies in the Persian Gulf rebuild from damage inflicted by Tehran. This effort is unfolding alongside fitful talks between Washington and Tehran on a potential agreement to extend a truce in the Iran war.
Negotiations have reportedly bogged down over Tehran’s insistence on the release of some $24 billion in frozen Iranian financial assets. The U.S. move to redirect these assets to Gulf allies could further complicate the ongoing negotiations.
The U.S. proposal represents a significant shift in how Iranian assets could be utilized, potentially moving beyond traditional sanctions enforcement to a more active role in using financial holdings for regional reconstruction efforts.
This development comes amid heightened tensions in the Middle East, with recent Iranian attacks on Gulf states raising concerns about the security of U.S. allies in the Persian Gulf region.
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