The United States has launched a major operation to identify the sources of Iranian government and institutional assets scattered around the world, according to Treasury Secretary Scott Bessent. In remarks at a recent news conference, Bessent said Washington was searching globally for Iranian assets that could be seized. He said the funds would later be used for the welfare of Iran’s general public. The report was published on July 31, 2026.

The move follows an announcement by US President Donald Trump that seized or confiscated Iranian assets would be used to compensate for damage to any ships and cargo in the Strait of Hormuz. The report describes Trump’s declaration as controversial. Tehran responded strongly and condemned the announcement soon after it was made.

Bessent’s comments were presented as part of the broader sequence of US statements concerning Iranian assets and Hormuz-related damage. According to the report, the developments have generated renewed tension in the Middle East and in the global economic arena. The article cited Al Jazeera as its source.