US Treasury says frozen Iranian assets will pay Gulf attack

U.S. Treasury Secretary Scott Bessent warned Iran on Thursday that any future attacks on Gulf allies or tolls collected from commercial shipping in the Strait of Hormuz will be offset using frozen Iranian assets. The announcement signals a significant escalation in the financial pressure campaign against Tehran amid renewed military hostilities in the region.

In a statement posted on social media, Bessent declared that the Iranian regime will lose the zero-sum game it is playing. He stated that any damage Iran inflicts on allies in the Gulf will be paid for with funds extracted from Iranian accounts. He also said any tolls paid to the Iranian-backed Persian Gulf Strait Authority would be offset by funds taken from those same accounts. Every attack Iran launches will only deepen the economic and financial consequences it faces, Bessent concluded.

The warning follows a recent escalation in conflict after a period of ceasefire. Earlier this week, Iran shot down an American Apache helicopter over the Strait of Hormuz. In response, the United States resumed striking military targets inside Iran. President Donald Trump stated that U.S. forces would strike Iran very hard and indicated...