US Treasury Scott Bessent says frozen Iranian assets will be used to compensate Persian Gulf allies for any damage and cover costs if Iran levies Strait of Hormuz transit fees.
US Treasury Secretary intends to use frozen Iranian assets for payments to Persian Gulf countries. "Any damage caused to our allies in the Persian Gulf will be paid for with funds seized from Iranian accounts," Scott Bessent wrote on social media platform X. He also expressed readiness to use frozen funds to compensate countries if Iran's Persian Gulf Affairs Administration (PGSA) collects transit fees for passage through the Strait of Hormuz.
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