US Defense Secretary Hegseth says Iran war cost $37.5 billion so far

In late July 2026, US Defense Secretary Pete Hegseth testified that the ongoing war with Iran has cost the United States $37.5 billion so far, and the Pentagon is requesting billions more. Hegseth made the statement during a hearing, while President Donald Trump threatened to bomb Iranian bridges and power plants in retaliation for any Iranian ship strikes.

European gas prices have risen sharply, approaching levels seen at the start of the Iran war, as traders worry about winter fuel supplies. A US senator also criticized the Trump administration's war strategy as a failure.