The US Treasury Department is reportedly considering using frozen Iranian assets to help Gulf allies rebuild infrastructure damaged during the ongoing conflict with Tehran. The proposal comes amid escalating US-Iran tensions, military exchanges in the Strait of Hormuz, and stalled peace talks.
The US Treasury Department is planning to leverage Iranian assets to assist Gulf allies in rebuilding from destruction inflicted by Tehran's regime during the ongoing war, according to a CBS News report.
A source familiar with US Treasury Secretary Scott Bessent's thinking revealed on Saturday that the department "intends to utilize all available authorities to make Iranian assets accessible for rebuilding and repair efforts related to any future damage inflicted by Iran."
The directive marks a significant shift in how Washington intends to handle frozen foreign capital. Bessent has instructed officials to obtain detailed financial projections from partner nations in the Gulf regarding the total expenditure required to fix infrastructure hit since the hostilities erupted.
Furthermore, the Treasury is poised to examine whether these seized assets can legally and practically be deployed to fund restorations for destruction that has "already been sustained by Gulf allies during the conflict," the source told CBS News.
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