Washington: The US Treasury Department is contemplating the use of Iranian assets to aid in the reconstruction efforts of Gulf countries impacted by attacks attributed to Tehran during the ongoing conflict, a source familiar with Treasury Secretary Scott Bessent’s views told CBS News on Saturday. This move is being considered as part of a broader strategy to address the financial repercussions of the hostilities.

According to Anadolu Agency, the source revealed that the department is planning to explore all legal options to make Iranian assets available for rebuilding infrastructure and covering repair costs from any future damages inflicted by Iran. Secretary Bessent has directed Treasury officials to gather in-depth assessments from Gulf partners to understand the financial impact of the damage linked to Iranian actions since the conflict’s inception.

Additionally, the department is investigating whether Iranian assets could also be used to fund repairs for losses already sustained by Gulf states during the ongoing war. The types of assets that might be utilized remain uncertain, with possibilities ranging from frozen Iranian financial holdings to physical assets like oil tankers.

This issue arises amid ongoing indirect negotiations between the US and Iran. Tehran has consistently maintained that lifting sanctions and releasing billions of dollars in frozen assets held overseas are vital components of any future agreement.

Since the conflict erupted in late February, Iran has conducted periodic missile and drone attacks targeting Gulf nations, including Saudi Arabia, the UAE, Kuwait, Bahrain, Qatar, and Oman.