U.S. to Redirect Iranian Assets for Gulf Damage Repairs
The Treasury Department intends to use Iranian assets to cover damage to U.S. Gulf allies from Iranian strikes. The plan follows Friday drone and missile exchanges in the Strait of Hormuz region.
BenzingaThe Treasury Department plans to redirect Iranian assets to help U.S. Gulf allies recover from damage caused by Iranian strikes, a source familiar with Treasury Secretary Scott Bessent's thinking told CBS News Saturday. The assets under review are not limited to frozen funds. Officials are reaching out to Gulf allies for damage evaluations that include potential future destruction.
Central Command shot down four Iranian one-way attack drones threatening maritime traffic in the Strait of Hormuz on Friday. Iran then launched seven ballistic missiles toward Kuwait and Bahrain. The sequence of events occurred one day before the Treasury plan was reported.
The asset plan follows remarks by Mohsen Rezaei, a senior adviser to Iran's supreme leader, who told CNN that unlocking $24 billion in U.S.-held frozen Iranian assets is a prerequisite for any peace agreement. Rezaei added that negotiations have hit a wall.
" — Mohsen Rezaei, senior adviser to Iran's supreme leader, via CNN interview reported June 5, 2026.
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