The US government is seeking to use Iranian assets to fund rebuilding and repair efforts in Gulf states, according to sources familiar with the matter.
A source told Reuters that the United States is considering redirecting Iranian assets to Gulf countries for reconstruction and compensation for damages allegedly caused by Iran.
The source added that US Treasury Secretary Scott Bessent has instructed a team to assess the costs of damage already inflicted on US allies in the region and to evaluate the potential use of Iranian assets for future reconstruction needs as well.
The development comes as Tehran reportedly launched a wave of strikes against Kuwait and Bahrain, followed by additional drone attacks, according to Reuters.
The disclosure follows comments by Mohsen Rezaei, an adviser to Iran’s Supreme Leader, who told CNN that any peace agreement aimed at ending the three-month conflict depends on the release of $24 billion in Iranian assets frozen by the United States.
Meanwhile, peace negotiations appear to have stalled. However, Iran’s semi-official ISNA news agency reported that a Pakistani minister, acting as a mediator, visited Tehran on Saturday carrying a letter addressed to Supreme Leader Ayatollah Mojtaba Khamenei.
In a related development, US forces reportedly struck Iranian coastal radar installations in Goruk and on Qeshm Island in the Strait of Hormuz early Saturday, after shooting down drones launched by Iran that US Central Command said posed a threat to maritime traffic.
The US military also said it intercepted two additional Iranian attack drones targeting shipping in the strait later the same day.
Iran’s Revolutionary Guard claimed it retaliated against US bases in Kuwait and Bahrain. Kuwait’s army said it intercepted seven ballistic missiles that passed over residential areas, causing material damage but no reported casualties.
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