Full story
Assets for Gulf rebuild
Multiple reports say the U.S. Treasury Department is considering using Iranian assets to help Gulf allies rebuild and repair damage attributed to Iran during the war, with CBS News reporting the plan Saturday.
The Hill said CBS News reported that Treasury Secretary Scott Bessent ordered a team to solicit Gulf allies’ thorough estimates of Iranian damage costs, and that the department would use any authority on hand for accessibility of Iranian assets in rebuilding and repair work linked to future Iranian damage.
Fortune described the Trump administration’s approach as using all tools available to allow Iranian assets to be used by Gulf allies to support rebuilding and to repair any future destruction.
The same reports tie the effort to stalled negotiations, with LiveNOW from FOX saying billions of dollars in frozen Iranian funds have been included in ongoing negotiations to end the war.
Cost estimates and scope
Reuters and CBS News reported that Bessent directed a team to gather cost estimates for damage caused by Iran, according to a source familiar with the plan cited by LiveNOW from FOX.
LiveNOW from FOX also said it wasn’t clear which assets the U.S. was eyeing specifically to use, and that the alleged proposal has the potential to extend beyond frozen assets.
Fortune said Bessent directed his team to assess conditions among US allies in the region and request comprehensive estimates of the costs associated with repairing damage inflicted by Tehran since the start of the conflict.
WXLV added that the Treasury plans to utilize all available authorities to make Iranian assets accessible for repair efforts related to any past and future damage caused by Iran, while also evaluating whether Iranian assets can be used to help pay for necessary repairs on past damages sustained by Gulf allies.
Iran rejects, talks at risk
Iran’s Deputy Foreign Minister Kazem Gharib Abadi rejected the idea, saying regional governments “are not in a position to demand compensation,” and adding that Iranian assets “are not war spoils for Washington, nor a fund to pay money to its allies.”
In the same Reuters-cited account, the U.S. intends to make Iranian assets available to Gulf allies to support reconstruction and reforms related to damages that Iran may cause in the future, while also considering using these assets to repair past damages.
Fortune said the initiative risks further chilling negotiations on a truce extension and reopening the Strait of Hormuz, while also paving the way for more detailed talks over Iran’s nuclear program.
The Hill tied the broader context to the ceasefire being tested, noting that on Sunday Tehran fired missiles at Israel and that the Israel Defense Forces said “Defensive systems are operating to intercept the threat.”
