US Treasury secretary Scott Bessent is weighing plans to use Iranian assets to pay for the rebuilding of Gulf countries hit by retaliation from Tehran, in a bid to limit the war’s fallout on American allies in the Middle East.
Bessent’s push comes after continued attacks on America’s closest allies in the Gulf, including Kuwait and Bahrain, prompted US forces to strike Iranian targets despite the fragile ceasefire between Washington and Tehran.
Relations between the US and its top Gulf allies have been strained by the extended conflict and de facto closure of the Strait of Hormuz, the vital waterway for oil and gas shipments in and out of the region.
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