Defense Secretary Pete Hegseth announced on July 22, 2026, that the ongoing conflict with Iran has cost $37.5 billion so far, as the administration seeks additional funding from Congress. Hegseth made the statement during a press briefing at the Pentagon, emphasizing the need for continued military operations.
The cost figure includes expenses for operations in the Persian Gulf and strikes on Iranian targets, according to Hegseth. He did not provide a breakdown of the costs but noted that the funding request is essential to maintain pressure on Iran and its proxies.
The announcement comes amid heightened tensions in the region, with the Iranian-backed Houthis threatening to blockade Saudi-linked shipping in the Bab el-Mandeb Strait. Shipping analytics firm Kpler warned that this could put pressure on two key energy chokepoints simultaneously.
Critics have questioned the escalating costs and the lack of a clear exit strategy. The administration has not specified the total amount of additional funding being requested.
