finance
U.S. Treasury to Use Iranian Assets to Compensate Gulf Allies for Infrastructure Damage
Treasury Secretary Bessent said Washington will draw from frozen Iranian accounts to cover damage to Gulf energy and civic infrastructure. The plan follows more than eighty reported strikes since March.
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U.S. Treasury Secretary Bessent announced Thursday morning that Washington will compensate Gulf allies for damage to energy and civic infrastructure caused by Iranian counterattacks, with payments drawn from Iranian accounts. Bessent posted on X that any damage inflicted on Gulf allies will be paid for with funds extracted from Iranian accounts.
He added that any tolls paid to the Persian Gulf Strait Authority will be offset by the same funds.
More than eighty oil, gas, and vital infrastructure facilities across the Gulf have been hit, with most attacks occurring in March and April. One recent report estimated up to $58 billion in damage. U.S. Official told ABC's Senior White House correspondent Selina Wang last weekend that Treasury will use all available tools to make Iranian assets available to Gulf allies for rebuilding and repairs.
U.S. has seized.
The same official said Treasury Secretary Bessent has directed his team to assess conditions among Gulf allies and request comprehensive estimates of repair costs since the start of the conflict. The administration is currently reaching out to those allies for their evaluations. Iran continues to demand the return of billions in funds long frozen by Washington as part of any deal.
The Trump administration has rejected that demand in its public statements. Bessent stated that the Iranian regime will lose the zero-sum game it is playing.
