US considers using Iranian assets to support reconstruction efforts in Gulf: Report

The US Treasury Department is considering the use of Iranian assets to support reconstruction efforts in Gulf countries affected by attacks attributed to Tehran during the ongoing conflict, a source familiar with Treasury Secretary Scott Bessent's views told CBS News on Saturday.

The source said the department plans to explore all legal avenues to make Iranian assets available for rebuilding infrastructure and covering repair costs resulting from any future damage caused by Iran, according to the CBS report.

Bessent has instructed Treasury officials to obtain detailed assessments from Gulf partners regarding the financial impact of damage linked to Iranian actions since the conflict began, the source added.

The department is also examining whether Iranian assets could be used to help fund repairs for losses already incurred by Gulf states during the war.

It remains uncertain which types of assets could be utilized, with possibilities ranging from frozen Iranian financial holdings to physical assets such as oil tankers.

The issue comes as indirect negotiations between the US and Iran continue. Tehran has maintained that the removal of sanctions and the release of billions of dollars in frozen assets held overseas would be essential components of any future agreement.

Since the war erupted in late February, Iran has carried out periodic missile and drone attacks targeting Gulf nations, including Saudi Arabia, the UAE, Kuwait, Bahrain, Qatar, and Oman.