The Center for Strategic and International Studies (CSIS) has reported that the United States lost a significant amount of military equipment amid the ongoing conflict centered on Iran. According to the organization, the total value of destroyed or damaged assets, including advanced fighter aircraft and radar systems, is estimated between $2.3 billion and $2.8 billion. The information was cited by Al Jazeera.

The report indicates that the losses occurred across multiple locations in the Middle East, including Kuwait, Iraq, Saudi Arabia, Iran, and the Strait of Hormuz. In some cases, specific sites were not disclosed, particularly where equipment was damaged during combat search and rescue (CSAR) operations.

CSIS noted that these losses could have significant implications not only in financial terms but also for the United States’ overall military capability in the region.

Experts have warned that the Iran war’s impact on global oil markets could inflict lasting harm on the US economy. The International Energy Agency (IEA) described the situation as one of the worst oil supply crises in history, triggering what economists call “demand destruction,” where soaring prices force consumers to permanently change spending habits. Rising fuel costs are already draining Americans’ savings and tax refunds, hitting low-income households hardest.

RSM US chief economist Joe Brusuelas said the US economy faces a chain reaction: higher energy prices act like an extra tax on families and businesses, eroding confidence, halting major purchases, reducing profits, and prompting layoffs. The Federal Reserve may raise interest rates, worsening the downturn. With the Strait of Hormuz closed, fertilizer and industrial raw material supplies are also disrupted, raising fears of further food price increases in coming months. Michigan State University’s David Ortega noted that food price shocks may take six months or more to fully appear.

Oxford Economics’ Nancy Vanden Houten said a ceasefire and partial oil price stabilization may have prevented a total collapse, though conditions remain volatile.

The United States Senate on Thursday voted down a Democratic proposal to withdraw American troops from Iran. The measure failed by a 47–50 vote, with Republican senators Susan Collins and Rand Paul breaking ranks to support it. The rejection came just one day before a key legal deadline for the Trump administration under the 1973 War Powers Resolution.

The War Powers Resolution allows a president to conduct military operations for up to 60 days without congressional approval. The Trump administration had notified Congress of the Iran operation on March 2, making Friday the final day of that period. Defense Secretary Pete Hegseth argued that the 60-day clock was paused due to a ceasefire, a claim Democrats rejected as unconstitutional. Senator Susan Collins emphasized that the president’s war powers are not unlimited and that Congress has a constitutional role in such decisions.

Democrats indicated they may pursue legal action if military operations continue without congressional authorization. However, experts noted that courts have historically avoided intervening in disputes over war powers, leaving the issue legally ambiguous.

The United States has remained in a state of 'permanent war' for the past 25 years, leading to soaring defense expenditures. Dan Grazier, a senior fellow at the Washington-based Stimson Center, told Al Jazeera that many American companies and national security officials have become accustomed to high defense budgets, making it difficult to reverse the trend.

Grazier explained that maintaining elevated defense spending often depends on engaging in new conflicts. He cited the ongoing Iran war, noting that the missiles and bombs currently being used will need to be replaced, creating lucrative opportunities for major weapons producers such as Lockheed Martin and RTX. This cycle of sustained military spending has become a significant source of income for the U.S. arms industry.

According to the report, the entrenched pattern of high defense budgets continues to benefit American defense contractors, reinforcing the economic incentives tied to prolonged military engagements.

The United States Air Force has entered into an agreement to purchase interceptor drones from Powerus, a Florida-based company supported by Donald Trump’s sons, Eric Trump and Donald Trump Jr. The company’s founder, Brett Velicovich, confirmed the deal, citing a Bloomberg report. The exact number of drones being purchased has not been disclosed.

In a post on social media platform X, Velicovich said the deal is about maintaining US drone dominance amid growing threats from inexpensive drones that challenge costly defense systems. He emphasized that modern warfare has changed, with the economics of conflict shifting dramatically, and claimed that Powerus’s technology aims to restore balance and protect American lives.

The report, sourced from Al Jazeera, highlights the growing role of drone technology in US defense strategy but does not specify financial details or delivery timelines.

Former US President Donald Trump has reiterated that he alone will decide the course of action regarding the ongoing ceasefire with Iran. According to the report, Trump believes that Iran has been weakened by economic sanctions, restrictions in the Strait of Hormuz, and penalties imposed on individuals and institutions. He maintains that these pressures will eventually force Iran to negotiate, but only under conditions set by the United States.

Despite differing realities, Trump continues to publicly assert that Iran will ultimately yield. His military and intelligence advisers have reportedly presented him with several options should the ceasefire not be extended, including armed measures or intensified economic actions. However, the final decision on any next steps will rest solely with Trump.

The report suggests that Trump’s approach reflects his determination to maintain personal control over US policy toward Iran, even as multiple strategic alternatives are under consideration.

U.S. President Donald Trump is reassessing his next steps and available options regarding the ongoing Iran war as he prepares for an upcoming visit to China. According to American media reports, the trip could significantly influence his decision-making process. A White House official told NBC that the China visit is one of the key factors Trump is considering while evaluating military and diplomatic alternatives. The visit, previously postponed due to the conflict, is now scheduled for May 14–15 and is being prioritized by the administration.

The New York Times reported that the dual blockade in the Strait of Hormuz and Iranian ports is complicating the situation ahead of the China trip. China has expressed interest in playing a constructive role in halting the war. However, the Trump administration has imposed sanctions on several Chinese refineries and shipping companies accused of continuing oil trade with Iran in violation of U.S. restrictions. Much of China’s imported oil passes through the Strait of Hormuz, which has been largely closed since early March.

Bruce Fein, a U.S. constitutional and international law expert and former Associate Deputy Attorney General, told Al Jazeera that loopholes in the 1973 War Powers Resolution could allow a U.S. president to continue military action without congressional authorization. He argued that the law contains constitutional inconsistencies and cannot override the U.S. Constitution, which grants Congress the sole authority to approve war unless the nation is under attack.

Fein cited Iran as an example, saying that since Tehran has not attacked the United States, any military action against it would constitute a criminal act of aggression. He warned that the law’s ambiguity enables a president to reset the 60‑day war clock at will, effectively extending hostilities indefinitely.

According to Fein, the War Powers Resolution fails to define precisely when a conflict begins or ends, leaving room for executive manipulation. This legal uncertainty, he cautioned, could let a president prolong war without congressional oversight.

A report cited by Al Jazeera states that several billion dollars’ worth of US military equipment has been destroyed in the ongoing Iran war. According to the Washington-based Center for Strategic and International Studies (CSIS), losses are estimated between 2.3 and 2.8 billion dollars. The report highlights that on March 26, a day after US Defense Secretary Pete Hegseth claimed Iran had been swiftly neutralized, an Iranian missile and drone strike destroyed a $700 million E-3 AWACS radar aircraft at Saudi Arabia’s Prince Sultan Air Base.

CSIS senior adviser Mark Cancian compiled the damage assessment, which includes the loss of a THAAD missile defense radar valued between $480 million and $970 million, and three F-15 fighter jets downed in a friendly fire incident in Kuwait. Security expert Omar Ashour told Al Jazeera that the Trump administration may be concealing the full extent of losses for political reasons ahead of the November election.

The report adds that satellite imagery of US bases in the Middle East has been restricted at the Pentagon’s request, though Iranian satellite images indicate significant damage. Despite damage to Iran’s conventional forces, its missile and drone capabilities remain operational.

U.S. Defense Secretary Pete Hegseth faced intense criticism from Democratic lawmakers over the true cost of the Iran war during his first appearance before Congress since the conflict began three months ago. At a House Armed Services Committee hearing, the Pentagon reported that the war had cost $25 billion so far, mainly for ammunition and equipment maintenance. Democrats rejected the figure as unrealistically low, arguing that the broader economic impact could push total costs between $630 billion and $1 trillion.

Acting Pentagon comptroller Jay Hurst clarified that the $25 billion estimate covered only direct operational expenses. Harvard economist Linda Bilmes suggested total costs might reach $1 trillion, noting that daily spending averaged $2 billion. The prolonged conflict has also driven U.S. fuel prices up 40 percent to $4.23 per gallon, worsening living costs and eroding President Trump’s popularity, with only 22 percent of Americans supporting his handling of the issue.

The New York Times reported that repairing damage from Iranian attacks on U.S. bases, including Bahrain’s Fifth Fleet headquarters, could cost hundreds of millions more, underscoring the war’s growing strain on the U.S. economy.

U.S. President Donald Trump shared a map on his social media platform Truth Social labeling the Strait of Hormuz as the 'Strait of Trump.' The post follows an earlier speech in which he also used the term 'Trump Strait.' During that event, audience members reportedly laughed, prompting Trump to remark that the media might call it a mistake, but he rarely makes mistakes.

The move comes after a joint U.S.-Israel attack on Iran, which led Iran to take full control of the Strait of Hormuz. In response, Trump imposed a naval blockade on Iran. Although a ceasefire between Iran and the United States has been extended indefinitely, tensions around the strategic waterway remain high.

The symbolic renaming of the strait and continued military posturing underscore the fragile state of U.S.-Iran relations and the persistent volatility in the region’s maritime security.

New York City Mayor Zohran Mamdani has urged the British royal family to return the historic Kohinoor diamond to India. He made the statement at a press conference in Lower Manhattan ahead of King Charles’s visit. Mamdani clarified that he had no scheduled meeting with the King, who was attending an event at the 9/11 Memorial and Museum. When asked what he would say if he met the monarch, Mamdani replied that he would ask him to return the priceless Kohinoor diamond to India.

The 105.6-carat diamond was taken from an Indian princely ruler during British colonial rule in the 1840s and later presented to Queen Victoria. It is now part of the British Crown Jewels, kept in the Tower of London. According to The New York Times, Mamdani’s Indian heritage and family background align with his anti-colonial stance. His father, Mahmood Mamdani, is a noted scholar of colonialism, and his mother, Mira Nair, is a filmmaker whose work often explores colonial experiences.

India has long demanded the return of the Kohinoor diamond, a symbol of colonial-era loss and cultural heritage.

The US Federal Trade Commission (FTC) reported that American consumers lost about 2.1 billion dollars to social media–based scams in 2025. The report identified social media as the leading source of financial losses compared to other fraud channels. Around 30 percent of victims said their scams began on social platforms, with Facebook accounting for the highest losses, followed by WhatsApp and Instagram.

The FTC found that online shopping scams were the most common, with over 40 percent of victims saying they ordered products after seeing social media ads. These included clothing, cosmetics, car parts, and even pets, often from fake or unfamiliar websites. Investment scams caused about 1.1 billion dollars in losses, while romance scams also grew, with 60 percent of those victims reporting initial contact through social media.

The FTC advised users to limit who can view their posts and personal information, avoid investments suggested online acquaintances, and research sellers before making purchases. Analysts warned that as social media use expands, targeted advertising and personal data misuse are increasing fraud risks, making stronger platform security and user awareness essential.

Admiral Brad Cooper, head of the US Central Command, announced that 42 commercial vessels attempting to enter or leave Iranian ports have been redirected. He praised the effectiveness of the naval blockade against Iran, stating that 41 tankers carrying 69 million barrels of oil, valued at over six billion dollars, remain unsold by the Iranian authorities. Cooper reaffirmed the US military’s commitment to fully enforcing the blockade.

The situation has intensified around the Strait of Hormuz, where hundreds of oil and gas tankers and cargo ships are stranded. Approximately 20,000 sailors are reportedly stuck in the Persian Gulf, unable to cross the strait due to the US blockade and heightened security risks.

The ongoing maritime standoff underscores the growing tension in one of the world’s most critical energy corridors, with significant implications for global oil transport and regional stability.

The United States has claimed to have seized nearly $500 million worth of Iranian cryptocurrency assets, intensifying its economic pressure on Tehran. US Treasury Secretary Scott Besent told Fox News that about $350 million in crypto assets were recently seized, adding to a previously confiscated $100 million, bringing the total close to half a billion dollars. He added that bank accounts in several countries are also being frozen as part of the same effort.

Besent stated that former President Donald Trump had ordered the expansion of economic pressure on Iran in March of the previous year and recently renewed that directive. The US is now urging foreign governments and companies to reduce economic ties with Iran, warning of secondary sanctions on those purchasing Iranian oil. Besent said the ongoing financial campaign and naval blockade at Iranian ports could cause lasting damage to Iran’s economy.

Iran dismissed the move, saying it would only push global oil prices higher. Iranian Parliament Speaker Mohammad Bagher Ghalibaf mocked Besent’s comments on social media, calling them irrelevant.