Many sources close to US Treasury Secretary Scott Bessent revealed that the US Treasury Department intends to use all existing powers to allow access to Iranian assets for reconstruction and repair efforts related to any damage caused by Iran in the future.
Mr. Bessent also directed the US Treasury Department to seek comprehensive estimates from Gulf allies on costs related to repairing damage caused by Iran since the conflict broke out.
The US Treasury Department will also further assess whether Iran's assets can be used to help finance the repair of the damage that Gulf allies have suffered in the conflict.
It is not yet clear which assets will be used to finance reconstruction, for example, Iranian cash in frozen bank accounts or tangible assets such as oil tankers.
In the context of ongoing indirect peace talks between the US and Iran, Tehran emphasized that any agreement would require lifting sanctions to allow the release of billions of USD of Iranian assets frozen abroad.
Since the conflict broke out at the end of February, Iran has continuously launched missile and drone attacks targeting all Gulf countries including Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar and Oman.
