Military strikes by the United States and Israel against Iran have triggered a conflict that has spread across multiple Middle Eastern nations. According to sources cited by Reuters on June 6, U.S. Treasury Secretary Scott Bessent has instructed his team to assess damages caused by Iranian retaliatory attacks on U.S. military bases and energy infrastructure in Gulf countries, with a view to allocating Iranian assets for repair work.
Sources said the Trump administration is considering using Iranian assets not only to cover losses suffered by Gulf allies from Iranian strikes but also to compensate for potential future damage. Bessent reportedly has tasked his team with estimating the costs of damage to Gulf nations. The administration may also consider allowing Iranian assets to be used for reconstruction related to attacks carried out by Iran and its regional proxy forces against Gulf countries before the current conflict — meaning past damage could also be compensated.
Financial and energy industry experts cited in the report estimate that due to unilateral U.S. sanctions, Iran currently has a total of approximately US$100 billion in overseas assets that it cannot access. These funds primarily come from accumulated foreign oil sales revenue and overseas reserves over the years. The frozen Iranian assets have also become a major sticking point in ceasefire agreement negotiations. The potential U.S. move to tap into these assets could further impact the stalled talks and the already fragile temporary truce.
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