U.S. Treasury Secretary Bessent Says Frozen Iranian Funds Will Be Used to Compensate Gulf States

[Financial News] The United States government has formally laid out a plan to use frozen assets of the Islamic Republic of Iran to compensate allies in the Persian Gulf region that were damaged by Iranian attacks. The move also signals an effort to maximize economic pressure on Tehran by putting the United States Department of the Treasury's authority over fund management at the forefront.
According to foreign media reports on the 11th local time, Scott Bessent, United States Secretary of the Treasury, said on social media platform X (formerly Twitter) that "Iranian assets frozen in the United States and managed by the Treasury will be used to financially compensate for all damages suffered by allies in the Persian Gulf region."
Bessent also suggested that if Iran imposes tolls or fees on ships passing through the Strait of Hormuz, a key global oil shipping route, those charges would likewise be offset and deducted from frozen Iranian accounts under Treasury regulations.
Bessent warned strongly that "any attack carried out by Iran will only deepen the economic and financial ruin it already faces." The remarks are seen as a clear sign that the United States does not intend to ease its high-pressure financial campaign against the Iranian government under its unilateral sanctions regime. As a result, the Treasury Department's role and influence in future U.S. measures are expected to grow even stronger.
The announcement came as military tensions in the Middle East reached a peak and concerns spread over the security of the Strait of Hormuz and international shipping routes, a critical chokepoint for global logistics.
Experts said the United States has begun using frozen funds directly as a kind of "compensation tool," indicating that its stance toward Iran has shifted in a more hard-line and pragmatic direction.

jjyoon@fnnews.com Yoon Jae-joon Reporter