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OfficialDiplomacy & politicsWashington, D.C., United States

Bessent says Iranian funds will pay for Gulf damage and offset Hormuz tolls

Mountain Time
Local time
8:42 AM in New York
Where
Washington, D.C., United States

Treasury Secretary Scott Bessent posted that any damage Iran inflicts on U.S. allies in the Gulf 'will be paid for with funds extracted from Iranian Accounts', and that any tolls paid to Iran's Persian Gulf Strait Authority will be offset the same way.

Why it matters

The same frozen Iranian money was at the centre of the talks: Reuters reported that morning that Iran wanted $6 billion to $12 billion released while Washington wanted staged releases for humanitarian goods.

Sources (3)

Confidence: Stated by a named government, military, or institution. Not independently confirmed. About confidence labels

Correction

  • Corrected the headline (it read "Bessent says Iranian funds will cover Gulf damage"); revised the summary; revised the context note; corrected the location from Washington, D.C. / Gulf allies finance response to Washington, D.C., United States; changed the confidence label from reported to official; reclassified it from finance to sanctions; updated the sourcing note; added a source: The Guardian live blog; removed Sky News live coverage as a source (a rolling live page that now shows other content). Why and evidence