US eyes Iranian assets for Gulf allies’ reconstruction

President Donald Trump speaks with reporters while aboard Air Force One. PIC/AFP

The US will attempt to redirect Iranian assets to Gulf states for rebuilding and repairs of damage caused by Iran, a source familiar with the matter said, as Tehran followed up a wave of strikes against Kuwait and Bahrain with further drone launches.

Treasury Secretary Scott Bessent has directed a team to assess costs for damage inflicted on Gulf allies by Iran, the source said on Saturday, adding the US will consider using Iranian assets for repairs of any future destruction as well.

The disclosure came a day after Mohsen Rezaei, an adviser to Iran's supreme leader, told CNN that a peace deal to end the three-month-old war hinged on the release of $24 billion in Iranian assets frozen by the US. The source did not specify what kind of assets the Treasury was examining.

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