The U.S. Treasury Department is reportedly set to utilize Iranian assets to help Gulf allies recover from damages caused by the ongoing conflict with Iran. According to CBS News, Treasury Secretary Scott Bessent is focused on leveraging any available authority to access these assets for rebuilding efforts. The war, which has now surpassed three months, has significantly impacted the global economy, notably increasing oil and gas prices due to the closure of the Strait of Hormuz, a critical oil transit route. In addition, Bessent has instructed his department to collect detailed damage estimates from Gulf allies regarding the costs incurred due to Iranian actions. The situation is further complicated by recent missile attacks launched by Iran against Israel, which have put the fragile ceasefire with the U.S. to the test. The Islamic Revolutionary Guard Corps claimed that these missile strikes were a warning to Israel against further military actions in the region, indicating a potential escalation in hostilities if tensions continue to rise.