Treasury Department plans to use Iranian assets to help U.S. Gulf allies recover
Summary
The U.S. Treasury Department plans to use frozen Iranian assets to help rebuild damage caused by Iran in Gulf countries during the ongoing conflict. Treasury officials are working with Gulf allies to estimate repair costs and decide which Iranian assets can be used for funding.Key Facts
- The Treasury Department wants to use Iranian assets to assist Gulf countries damaged by Iran in the current conflict.
- Treasury Secretary Scott Bessent has instructed his team to gather cost estimates from Gulf allies for repairs.
- The department will assess whether frozen Iranian cash or physical assets like oil tankers can fund rebuilding.
- This plan comes amid indirect peace talks between the U.S. and Iran.
- Iran demands lifting sanctions and release of frozen assets as part of any deal.
- Since February, Iran has attacked Gulf states with missiles and drones.
- Gulf countries affected include Saudi Arabia, UAE, Kuwait, Bahrain, Qatar, and Oman.
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