U.S. Treasury Secretary Scott Bessent warned that Iran will face economic consequences for further attacks on Trump administration allies in the Gulf, threatening to offset Iranian toll payments with seized funds. The warnings follow Iran's establishment of a toll system for vessels passing through the Strait of Hormuz, with some payments reportedly made in USDT stablecoin. On June 6, ABC reported a Treasury source stated the department would consider using Iranian assets to fund repairs for past war damages. The statements come amid renewed Middle East conflict escalation after a ceasefire period and follow the U.S. seizure of nearly $1 billion in Iranian crypto assets in May under Operation Economic Fury.
Bessent Warns Iran Faces Zero-Sum Economic Game
Scott Bessent stated on social media that the Iranian regime would lose the "zero-sum game" it is playing. "Any damage it inflicts on our allies in the Gulf will be paid for with funds extracted from Iranian Accounts," he stated. Targeting the toll booth system Iran established through the Persian Gulf Strait Authority to safeguard vessel passage through the Strait of Hormuz, Bessent disclosed that any tolls paid would be "offset by funds extracted from their accounts." According to Iranian officials, some of these payments have been made in USDT, a dollar-pegged stablecoin. "Every attack Iran launches will only deepen the economic and financial consequences it faces," Bessent concluded.
U.S. Holds Over $100 Billion in Frozen Iranian Assets
Reports indicate that sanctions on Iran have resulted in over $100 billion in assets frozen globally. On June 5, Iran International claimed that $12 billion of these would become available to the Iranian regime if parties agreed on a preliminary agreement. In May, Bessent indicated the U.S. had seized nearly $1 billion in crypto assets from the Iranian regime as part of Operation Economic Fury. "Just outright grabbed the wallets. Some of them may be typing in right now and might not realize that their wallet has been grabbed," he commented.
Treasury Source Cites Potential Asset Use for War Damage Repairs
On June 6, ABC's Selina Wang cited a source stating the Treasury would "further consider whether Iranian assets could be used to support repairs for past damages." Bessent has not directly stated these frozen assets would be leveraged to offset Iran's damages.
FAQ
What did Scott Bessent warn Iran about regarding Gulf attacks?
Scott Bessent warned that any damage Iran inflicts on U.S. allies in the Gulf will be paid for with funds extracted from Iranian accounts, and that toll payments made to Iran's Persian Gulf Strait Authority will be offset by seized funds.
How much in Iranian assets has the U.S. frozen or seized?
Reports indicate over $100 billion in Iranian assets are frozen globally under sanctions. In May, the U.S. Treasury seized nearly $1 billion in crypto assets from Iran under Operation Economic Fury.
