US spending on Iran war exceeds S$60 billion; fresh strikes warned

The estimated cost of the US war against Iran has exceeded US$47 billion (S$60.3 billion), up more than 25% from July. Despite the mounting costs, Washington has reportedly notified several Arab allies in the Persian Gulf to prepare for a short, high-intensity military campaign after the midterm elections.

Reuters reported on Tuesday (27 October), citing Pentagon figures, that the latest estimate covers operational costs. Replenishing munitions expended in the conflict alone is expected to cost more than US$29 billion, while replacing lost military equipment, including large numbers of drones and other aircraft, will cost more than US$6 billion.

The figure exceeds the US$37.5 billion announced by US Defence Secretary Pete Hegseth in July and does not explicitly include the cost of repairing US military bases hit by Iranian missiles and drones. The Pentagon has yet to respond. Separate Pentagon figures show that 21 US service personnel have been killed and 865 wounded since the US and Israel launched large-scale military operations on 28 February.

US President Donald Trump had expected a swift victory when he launched the war, but the conflict has continued to drive up global energy costs, weighing on his approval ratings and the Republican Party’s electoral prospects. Republicans currently hold only slim majorities in both houses of Congress. The midterm elections on 3 November will determine control of Congress for the next two years.

Asked on Tuesday if there will be more strikes against Iran after the election, Trump says anything is possible.

The Wall Street Journal, citing officials familiar with the matter, reported that Washington had alerted its Gulf allies through diplomatic and military channels, as the US and Israel step up preparations for a fresh offensive aimed at weakening Iran’s military capabilities and forcing Tehran back to the negotiating table.

The US military is reportedly deploying an additional Patriot air defence system to Israel, replenishing ammunition supplies for troops stationed in the Middle East and withdrawing some personnel from vulnerable bases. Bombers and fighter jets are also preparing for combat, while another carrier strike group and a Marine expeditionary unit are preparing to head to the Middle East to join US forces there.

Sources close to the matter said Trump had yet to make a final decision but was leaning towards large-scale air strikes on Iran’s infrastructure and nuclear facilities after the elections. Regional mediators are still working towards negotiations with no breakthrough so far. The White House declined to comment on specific military plans, saying only that all options remained open.

International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi told the UN Security Council on Tuesday that although Tehran continued to block inspectors’ access to most nuclear facilities in Iran, there was no sign so far that Iran had repaired nuclear facilities damaged in US and Israeli air strikes over the past two years.

Grossi said, “Since June 2025, we have not identified any activity to repair or reconstruct any of the facilities damaged in the military attacks of 2025 and 2026.”

Grossi’s remarks raised fresh questions about Trump’s justification for launching military action against Iran. Trump had said the new war launched against Iran in late February was intended to prevent it from obtaining nuclear weapons.