US Treasury Secretary Scott Bessent said on June 11 that the US will extract funds from frozen Iranian accounts to cover any harm Iran causes to its Gulf allies and to offset tolls paid to the Persian Gulf Strait Authority [1, 2]. "Any tolls paid to the Persian Gulf Strait Authority will be offset by funds extracted from their accounts," Bessent said [1]. He warned Tehran the “Iranian regime will lose the zero-sum game it is playing” and that "every attack Iran launches will only deepen the economic and financial consequences it faces" [2].
The Strait of Hormuz, a critical transit point for global oil and liquefied natural gas shipments linking the Persian Gulf to world markets, remains a flashpoint for regional tensions [2]. The US has pressured Iran with sanctions, asset freezes, and financial restrictions targeting its oil revenue streams, shipping sector, and military-supporting entities amid accusations Iran destabilizes the region [2].
Iran, for its part, maintains its actions defend national sovereignty and respond to pressure from Washington and its allies [2]. The United States accuses Iran of escalating regional instability, particularly through actions affecting the Strait of Hormuz, which is vital for energy exports [2].
Bessent emphasized the US will hold Iran financially accountable for any damage caused to Gulf allies, signaling an escalation in economic measures alongside diplomatic and security efforts to counter Iran’s regional activities [1, 2]. The latest statements make clear the US intends to use frozen Iranian assets as a direct financial tool against Tehran's hostile actions.
The US Treasury’s move to tap Iranian frozen funds is expected to impact Iran’s economic calculations amid ongoing tensions in the Gulf. The situation will be closely monitored in the coming months as Iran’s response to increased economic pressure unfolds.
