The administration of U.S. President Donald Trump is pushing to invest $5 billion (approx. 6.8 trillion won) to rebuild Middle East energy facilities destroyed during the war with Iran, the Wall Street Journal (WSJ) reported on the 21st (local time).

According to documents obtained by the WSJ and remarks from U.S. and Middle Eastern officials, the Trump administration has proposed creating a total fund of $10 billion (approx. 13.7 trillion won) by having the U.S. contribute $5 billion and requesting matching contributions from eight Middle Eastern nations.

The targeted countries include Saudi Arabia, the United Arab Emirates (UAE), Qatar, Bahrain, Kuwait, Oman, Iraq, and Jordan.

The proposed name for the fund is the "Partnership for Allied Trust and Construction (Pact)," with plans being considered for it to be managed by the U.S. International Development Finance Corporation (DFC).

The fund is expected to focus on rebuilding energy infrastructure such as pipelines and refineries destroyed during the nearly seven-month-long war with Iran, while also reducing reliance on the Strait of Hormuz for energy transportation.

However, U.S. officials noted that negotiations with the relevant countries are still ongoing, meaning details could change, and actual participation and timelines remain uncertain.

The WSJ assessed that this initiative effectively acknowledges the Trump administration's realization that the war with Iran severely shook global energy markets and left behind massive costs to repair destroyed Middle Eastern pipelines and refineries.

During the war that began in late February, Iran responded to U.S. and Israeli attacks with missiles and drones, causing significant damage to dozens of regional refineries, oil fields, and natural gas export terminals.

Consequently, observations suggest that energy supply shortages could persist for a considerable period even if the Strait of Hormuz is fully reopened. Energy experts and officials estimate that tens of billions of dollars will be needed to restore regional energy infrastructure.

Some in the Middle East point out that embarking on energy facility reconstruction before achieving a complete peace agreement with Iran is premature. This is because newly constructed or restored facilities could once again become targets of Iranian missile or drone attacks.

Additionally, varying national interests—such as Saudi Arabia and the UAE being able to utilize alternative transport routes bypassing the Strait of Hormuz, whereas Kuwait and Qatar remain heavily dependent on the strait—are being discussed as variables in forming the fund.