Photorealistic depiction of Defense Secretary Pete Hegseth questioned in Congress about Iran war costs rising to $29 billion.
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Lawmakers question defense secretary on rising iran war costs

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Defense Secretary Pete Hegseth faced questions from lawmakers on Tuesday about the escalating costs of the U.S. war against Iran. Pentagon officials put the current price tag at $29 billion. The figure has risen from $25 billion two weeks earlier.

Iran has hardened its negotiating position with the United States by demanding five conditions described as minimum guarantees for trust. The move comes amid mounting concerns over oil supplies and shipping security in the Strait of Hormuz.

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Blockchain analytics firm Arkham has identified two OFAC-sanctioned Tron wallets connected to Iran's central bank. The mapping provides new public insight into Tehran's onchain cryptocurrency activity.

Global stocks reached record highs after President Trump indicated progress in Iran negotiations. The news eased geopolitical tensions, boosting technology shares in South Korea. Brent crude oil prices fell amid the positive market sentiment.

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Iran's Islamic Revolutionary Guard Corps (IRGC) released a new map showing areas of the Strait of Hormuz under their naval control. The announcement comes amid tensions with the US, including a missile strike on an American frigate. IRGC spokesperson stated there is no change in overall strait management.

French Foreign Minister Jean-Noël Barrot toured the Gulf on April 30 and May 1, 2026. He visited Saudi Arabia, Oman, and the United Arab Emirates, with the Qatar stop cancelled. France aims to leverage the Gulf monarchies' rift with Washington to strengthen its positions.

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US President Donald Trump stated on Friday in a letter to Congress that hostilities against Iran are «over». The announcement comes on the 60-day deadline for congressional authorization. Iran submitted a new conflict resolution proposal, but Trump said he was «not satisfied».

 

 

 

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