U.S. eyes Iranian assets for Gulf allies’ reconstruction, source says

Subscribed with another email? Logout and Login with that one. Account subscription benefits alongside Premium Stories, Editorials, Opinions and more. Unlock these with Subscription The View From India Looking at World Affairs from the Indian perspective. First Day First Show News and reviews from the world of cinema and streaming. Today's Cache Your download of the top 5 technology stories of the day. Science For All The weekly newsletter from science writers takes the jargon out of science and puts the fun in! Data Point Decoding the headlines with facts, figures, and numbers THEdge At the cutting edge of education and careers Health Matters Ramya Kannan writes to you on getting to good health, and staying there Gender Agenda Stories from beyond the binary. The Hindu On Books Books of the week, reviews, excerpts, new titles and features. Published - June 07, 2026 06:47 am IST - WASHINGTON/DUBAI People walk past a billboard depicting the late leader of the Islamic Revolution, Ayatollah Ruhollah Khomeini, and the late Iran's Supreme Leader Ayatollah Ali Khamenei, on a street in Tehran, Iran June 6, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via Reuters The U.S. 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 (June 6, 2026), a day after a wave of attacks by Iran against Kuwait and Bahrain. U.S. 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 U.S. 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. The source on Saturday (June 6, 2026) did not specify what kind of assets the Treasury was examining. The language used to describe the new measures did not appear limited to frozen assets. Peace negotiations appear to have stalled, although a minister from mediator Pakistan traveled to Tehran on Saturday (June 6, 2026) with a letter for Iran’s Supreme Leader Mojtaba Khamenei, Iran’s semi-official ISNA news agency reported. The threatened redirection of Iranian assets could create a new irritant to a fragile ceasefire between the United States and Iran, which was tested again this weekend with strikes by the U.S. and Iran. U.S. forces struck Iranian coastal radar sites in Goruk and Qeshm Island, both in the Strait of Hormuz, early on Saturday (June 6, 2026) after shooting down drones launched by Iran that U.S. Central Command says posed a threat to maritime traffic. Iran’s Revolutionary Guard said it retaliated against U.S. bases in Kuwait and Bahrain, and Kuwait’s army said on Saturday (June 6, 2026) it engaged seven ballistic missiles that passed over residential areas, resulting in material damage but no casualties. In Bahrain, sirens sounded and residents were urged to seek shelter. Kuwait and Bahrain condemned the strikes. Iran later said it had hit U.S. bases in both countries with ballistic missiles, but the U.S. military said six missiles were intercepted and a seventh did not reach its target. The U.S. and Iran have been engaged in largely indirect negotiations for an interim deal to halt the three-month-old war that would leave issues including Iran’s nuclear programme to further negotiations. But a deal has remained elusive while the two sides have periodically skirmished. Tehran wants access to billions of dollars in oil revenue, waivers on sanctions on crude exports, the lifting of a U.S. blockade on its ports and leverage over the Strait of Hormuz. Iran has effectively blocked the waterway, where about a fifth of global oil traffic transited before the war. Iranian state media reported that Pakistani Interior Minister Mohsin Naqvi arrived in Tehran on Saturday (June 6, 2026) for talks with Iranian officials, including Foreign Minister Abbas Araqchi. Naqvi said he was carrying a “special letter” from his country’s army chief and prime minister to Iran’s Khamenei, ISNA reported. Trump is facing mounting domestic political pressure due to rising gas prices to bring the unpopular war to an end. He told NBC that while most of Iran’s drone and missile manufacturing facilities had been destroyed, the Iranians still had access to about a fifth of their missiles. “They have some missiles, they have some drones. I would say percentage wise, maybe 21% to 22% of their missiles. It’s a lot of missiles, but it’s not what it was when we first attacked,” Mr. Trump told NBC News’ “Meet the Press” program, according to excerpts released by the network on Friday. After the U.S. and Israel launched the war against Iran on February 28, Tehran attacked Gulf states hosting U.S. bases and largely stopped shipping through the Strai

U.S. eyes Iranian assets for Gulf allies’ reconstruction, source says

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U.S. eyes Iranian assets for Gulf allies’ reconstruction, source says

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