Treasury Secretary Scott Bessent is examining pathways to repurpose Iranian assets to compensate the U.S.’ Gulf allies for damage inflicted by Iranian attacks during the war, and potential future damages, a source familiar with Bessent’s thinking told Jewish Insider.

“Treasury will utilize all tools available to allow Iranian assets to be made available to our Gulf allies to support rebuilding and repairs for any future damage caused by Iran,” the source said.

“The Secretary has also directed his team to assess conditions amongst our Gulf allies and request comprehensive estimates of the costs associated with repairing damage Iran has inflicted since the start of the conflict,” the source continued. “Treasury will further consider whether Iranian assets could be used to support repairs for past damages.”

U.S. lawmakers have similarly sought to repurpose seized Russian assets to support Ukraine’s defense during its own ongoing war.