US to transfer Iranian assets to its Persian Gulf allies — Reuters

Lead

The United States plans to make Iranian assets available to its Gulf allies to support rebuilding and repairs for future damage caused by Iran, a source familiar with the matter said on Saturday. The same source told Reuters that Washington would also consider using those assets to compensate for past damages, and that U.S. Treasury Secretary Scott Bessent has directed a team to assess the costs of damage already inflicted on Gulf allies by Iran.

The disclosure came a day after a wave of attacks by Iran against Kuwait and Bahrain, and amid reports that peace negotiations between the United States and Iran have stalled. The plan could add a new irritant to a fragile ceasefire that was tested this weekend with strikes by both sides.

Coverage Comparison

Three news outlets — The Jerusalem Post, Russia's TASS news agency, and India's The Hindu — reported the plan, attributing it to a source familiar with the matter via Reuters. The Jerusalem Post and TASS both highlighted the U.S. intention to make Iranian assets available to Gulf allies for rebuilding and repairs, with TASS noting the administration's goal to provide access to Iranian assets for compensation of damage Tehran may inflict. The Hindu framed the story within the broader context of U.S.-Iran conflict escalation, emphasizing the redirection of assets to Gulf states for rebuilding and repairs while also detailing recent military exchanges.

All three reports agreed on the core fact: U.S. Treasury Secretary Scott Bessent has directed a team to assess costs for damage already inflicted on Gulf allies by Iran, and the U.S. will consider using Iranian assets for those repairs as well. The reports did not specify what kind of assets the Treasury is examining, though the language used did not appear limited to frozen assets.

Key Claims

• According to a source familiar with the matter, the United States will make Iranian assets available to Gulf allies to support rebuilding and repairs for future damage caused by Iran. This was reported by The Jerusalem Post, TASS, and The Hindu.
• The same source said that U.S. Treasury Secretary Scott Bessent has directed a team to assess costs for damage already inflicted on Gulf allies by Iran, and that the U.S. will consider using those assets for past repairs as well. This was reported by all three outlets.
• The Hindu reported that peace negotiations between the U.S. and Iran have stalled, and that a Pakistani minister traveled to Tehran on Saturday with a letter for Iran's Supreme Leader Mojtaba Khamenei, as reported by Iran's semi-official ISNA news agency.
• The Hindu also reported that Iran launched attacks on Kuwait and Bahrain, and that U.S. forces struck Iranian coastal radar sites in Goruk and Qeshm Island in the Strait of Hormuz in response. Iran's Revolutionary Guard said it retaliated against U.S. bases in Kuwait and Bahrain, and Kuwait's army said it engaged seven ballistic missiles that passed over residential areas, resulting in material damage but no casualties.
• The source did not specify the type of assets the Treasury was examining, and the description of the measures did not appear limited to frozen assets, according to The Hindu.

Context

The announcement came a day after Mohsen Rezaei, an adviser to Iran's supreme leader, told CNN that a peace deal hinged on the release of $24 billion in Iranian assets frozen by the United States. The threatened redirection of Iranian assets could complicate the fragile ceasefire, which was tested this weekend with strikes by both the U.S. and Iran.

In Bahrain, sirens sounded and residents were urged to seek shelter. Kuwait and Bahrain condemned the strikes. The situation remains fluid, and the developing story may see further updates.