The U.S. Treasury Department is planning to use Iranian assets to assist Gulf allies in rebuilding efforts following damage from Iranian actions during regional conflicts, according to a CBS News report.

CBS News cited a source familiar with Treasury Secretary Scott Bessent's thinking in reporting the department's intentions regarding the Iranian assets. The report did not specify which Gulf allies would benefit from the proposed assistance or provide details about the scope of the rebuilding efforts.

The plan would involve redirecting frozen or seized Iranian assets currently under U.S. control to support reconstruction activities in allied Gulf nations. Iranian assets have been subject to various U.S. sanctions and freezing measures over the years as part of broader economic pressure campaigns.

The Treasury Department has not publicly confirmed the reported plans, and details about implementation timeline or specific mechanisms for transferring the assets remain unclear. The proposal comes amid ongoing tensions between Iran and Gulf allies of the United States in the region.

Gulf nations have experienced various forms of damage from Iranian military actions and proxy activities throughout recent regional conflicts, though the report did not specify which particular incidents or damages would be addressed through the asset utilization program.