The source said US Treasury Secretary Scott Bessent has instructed officials to assess the financial impact of Iranian strikes on Gulf allies, including Kuwait and Bahrain. The review is expected to examine ways to use Iranian assets to fund reconstruction and repair efforts resulting from current and any future attacks.
The development comes shortly after Mohsen Rezaei, an adviser to Iran’s supreme leader, stated that any agreement to end the three-month conflict would require the release of approximately $24 billion in Iranian assets frozen by the United States.
The source did not specify which assets were being considered, and it remains unclear whether the proposal would apply only to frozen funds or to other Iranian holdings as well.
The proposal risks adding further strain to an already fragile ceasefire between the United States and Iran. While both sides have engaged in indirect negotiations aimed at ending hostilities, military exchanges have continued in recent days.
Pakistan has continued diplomatic efforts to reduce tensions. Interior Minister Mohsin Naqvi arrived in Tehran on Saturday and reportedly delivered a message to Iran’s leadership as part of mediation efforts aimed at reviving dialogue between Washington and Tehran.
Meanwhile, the US military said it struck Iranian coastal radar installations in Goruk and on Qeshm Island in the Strait of Hormuz after intercepting drones it said posed a threat to maritime traffic. Later, US forces reportedly shot down two additional Iranian drones in the strategic waterway.
Iran’s Revolutionary Guards responded by launching missiles toward US-linked targets in Kuwait and Bahrain. Kuwaiti authorities reported that missiles passed over residential areas, causing material damage but no casualties. Bahrain also activated air raid sirens and advised residents to seek shelter.
Iran claimed it had successfully targeted US military facilities in both countries. However, US Central Command said six missiles were intercepted and a seventh failed to reach its intended target.
Efforts to reach a broader agreement remain stalled. Tehran continues to demand access to billions of dollars in oil revenues, relief from sanctions, the lifting of restrictions on its ports, and greater influence over shipping through the Strait of Hormuz. Iran has significantly disrupted traffic through the waterway, which previously handled roughly one-fifth of global oil shipments.
The ongoing conflict has placed additional pressure on global energy markets. Rising oil prices have contributed to inflation worldwide and increased political pressure on US President Donald Trump to find a diplomatic solution.
Speaking to NBC, Trump said Iran’s military capabilities had been significantly weakened but warned that the country still retained a substantial missile and drone arsenal.
The uncertainty has also affected oil-producing nations. OPEC+ members were expected to discuss another increase in production targets, although the conflict continues to limit output from several producers in the region.
Regional tensions extended beyond the Gulf as Israel’s military reported intercepting two projectiles launched from Lebanon. The incident came one day after Lebanese authorities said an Israeli strike in southern Lebanon killed two army officers and a soldier, highlighting the risk of broader instability across the Middle East.
