US to make Iranian assets available for repairs in Gulf states that were damaged in Iranian attacks

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Fire and smoke rise in the Fujairah Oil Industry Zone, caused by debris after interception of a drone by air defenses, UAE, March 4, 2026; illustrative.




















Fire and smoke rise in the Fujairah Oil Industry Zone, caused by debris after interception of a drone by air defenses, UAE, March 4, 2026; illustrative.
(photo credit: REUTERS/Amr Alfiky TPX IMAGES OF THE DAY)

The US government will attempt to redirect Iranian assets to Gulf states for rebuilding and repairs of future damage caused by Iran, a source familiar with the matter said on Saturday, a day after a wave of attacks by Iran against Kuwait and Bahrain.

US Treasury Secretary Scott Bessent has also directed a team to assess costs for damage already inflicted on Gulf allies by Iran, the source said, adding that the US will consider using Iranian assets for those repairs as well.

The disclosure 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.

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