US Treasury chief says damage to Gulf allies to be paid for with funds extracted from Iranian accounts

US Treasury Secretary Scott Bessent warned Iran on Thursday that any damage it causes to Washington’s Gulf allies would be paid for with funds extracted from Iranian accounts, as the US signaled further economic and financial pressure on Tehran.

“The Iranian regime will lose the zero-sum game it is playing,” Bessent said in a statement on the US social media company X.

“Any damage it inflicts on our allies in the Gulf will be paid for with funds extracted from Iranian Accounts,” he added.

Bessent also said any tolls paid to the Persian Gulf Strait Authority would be offset through funds taken from Iranian accounts.

“Every attack Iran launches will only deepen the economic and financial consequences it faces,” he said.

The remarks came amid heightened tensions in the Gulf, where concerns over attacks on regional infrastructure and shipping have raised fears of further disruption to energy flows.

The Strait of Hormuz, which links the Persian Gulf with global markets, remains one of the world’s most critical oil and liquefied natural gas transit routes. Any threat to maritime traffic in the area is closely watched by energy markets because of the region’s central role in global crude and gas supplies.

Washington has used sanctions, asset freezes, and financial restrictions as key tools against Iran, targeting oil revenue, shipping networks, and entities accused of supporting Tehran’s military and regional activities.

Bessent’s warning suggests the US could seek to use Iranian-linked funds to compensate for damage to Gulf allies or offset payments made under any Iran-linked tolling mechanism in the Strait.

The US has repeatedly accused Iran of destabilizing activity in the region, while Tehran says its actions are aimed at defending its sovereignty and responding to pressure from Washington and its allies.