US eyes Iranian assets to fund Kuwait-Bahrain recovery

The United States is preparing steps to redirect Iranian assets to finance reconstruction and repairs in Kuwait and Bahrain after Tehran's attack. Reuters reported that U.S. Treasury Secretary Scott Bessent has assigned a team to calculate the cost of damage inflicted on Washington's Gulf allies, including the possible cost of a follow-on strike. The move came a day after Iran attacked Kuwait and Bahrain, two countries that host U.S. military bases. Kuwait's military said it intercepted seven ballistic missiles that flew over residential areas and caused material damage with no casualties. In Bahrain, air raid sirens sounded and residents were told to take shelter. The U.S. plan could add fresh tensions as peace negotiations with Iran remain deadlocked and Tehran demands the release of US$24 billion in frozen assets.