Iran has reportedly lost about $4.8 billion in oil revenue since the U.S. naval blockade took effect on April 13, the Pentagon estimated Friday, as nuclear negotiations remain at a stalemate.
A Pentagon official familiar with the assessment confirmed the figure to The Hill, first reported by Axios.
“We are inflicting a devastating blow to the Iranian regime’s ability to fund terrorism,” acting Pentagon press secretary Joel Valdez said Friday.
Speaking at the White House on Friday about Iran’s latest peace proposal, Trump told reporters, “They’re asking for things that I can’t agree to.”
The U.S. president also told Congress on Friday that Iran hostilities “have been terminated.”
War’s Price Tag Under Fire
These figures come amid allegations from Sen. Angus King (I-Maine), a member of the Senate Armed Services Committee, who disputed the Pentagon’s $25 billion cost estimate that acting CFO Jules Hurst III told the House Armed Services Committee on Wednesday.
King told CNN he heard estimates closer to $50 billion. Iranian Foreign Minister Abbas Araghchi went further Friday, claiming on social media that the true cost exceeds $100 billion.
With the escalation entering its third month without a permanent truce, WTI crude traded at $101.94, down 2.98%, while Brent crude held at $108.17, down 2.02%, with both remaining above $100 as Middle East supply disruptions persist.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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