Treasury Department plans to use Iranian assets to help U.S. Gulf allies recover, source says [View all]
Source: CBS News
June 6, 2026 / 6:22 PM EDT
The Treasury Department will use Iranian assets to help U.S. Gulf allies recover from damage caused by Tehran's regime during the Iran war, a source familiar with Treasury Secretary Scott Bessent's thinking told CBS News Saturday.
The source said the Treasury intends to utilize all available authorities to make Iranian assets accessible for rebuilding and repair efforts related to any future damage inflicted by Iran.
Bessent has also directed the Treasury to seek comprehensive estimates from Gulf allies of the costs associated with repairing damage caused by Iran since the conflict began, the source said.
The Treasury will also further evaluate whether Iranian assets could be used to help finance repairs for damage already sustained by Gulf allies during the conflict, the source added. It is unclear which assets would be used to finance rebuilding — for example, Iranian cash in frozen bank accounts or hard assets such as oil tankers.
Read more: https://www.cbsnews.com/news/treasury-department-iranian-assets-gulf-allies-recovery/
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