Iran War Costs Rise to $43.6 Billion, US Army Estimates

20 September 2026

The cost of the war against Iran for the United States Armed Forces reached US$ 43.6 billion on September 3, according to a new estimate presented this week to lawmakers in the country.

The figure released by the U.S. Central Command, which oversees operations in the Middle East, presents the most up-to-date cost of the conflict since it was initiated by the United States and Israel on February 28.

A report from the Congressional Budget Office (CBO) released on Tuesday indicated the war had cost US$ 38 billion through August 1 and would continue to incur expenses of about US$ 3 billion per month, depending on the intensity of the conflict.

The new breakdown, analyzed by the Associated Press and previously released by Bloomberg and Punchbowl News, also showed the continued use of expensive ammunition by American forces. Weapons costs rose by more than US$ 6 billion in just over a month, from US$ 21.7 billion, as listed in the CBO report, to US$ 28.1 billion in the U.S. Central Command’s estimate.

The financial cost is only one measure of the impact of the war against Iran, which is also affecting oil prices and the stock market and has caused deaths and injuries among U.S. troops. The political costs will be assessed in the midterm elections in November, with Republican candidates facing mounting difficulties due to the war’s unpopularity.

The latest cost estimate comes as the Trump administration is pushing for a historic US$ 1.5 trillion military budget proposal. The White House is also asking Congress to approve a US$ 95 billion package that would help finance the war against Iran and other priorities.

The Secretary of Defense, Pete Hegseth, urged approval of the budget during a speech on Friday, the 18th, in Austin, Texas, at Saronic Technologies, a company that manufactures drones for the Navy.

“We are requesting US$ 1.5 trillion in the current budget to undertake long-term investments that keep our country strong and ensure high-quality, well-compensated jobs for American manufacturers like Saronic,” Hegseth said. “We will fulfill this long-term investment. We will fund this department.”

Meanwhile, Democratic senators are demanding that Hegseth provide a full report on the costs of the war against Iran. In a letter to the Secretary of Defense, the lawmakers criticized the Department of Defense for hiding basic budgetary information from Congress and the American public, even as casualties among U.S. troops rise and costs to taxpayers increase.

The one-page report presented by the U.S. armed forces to Congress this week includes the operating costs of warships, aircraft, and bases, as well as equipment losses and medical support for the troops. Pentagon-reported casualties total 18 dead and more than 830 wounded, according to the Defense Casualty Analysis System.

The report does not include damage to American bases in the Middle East, which Iran attacked with ballistic missiles and drones. A report by the Pentagon’s inspector general released on Monday the 14th stated that the Iranian attacks damaged and destroyed hundreds of buildings and other structures at American bases in Kuwait, Bahrain, Qatar, United Arab Emirates, Saudi Arabia, Iraq, Oman, and Jordan.

In the new report to Congress, the ammunition costs were by far the largest, representing well over half of all costs. The advanced weapons that have been in highest demand are interceptors for defensive missiles, such as those launched by the Army’s Patriot and THAAD systems.

Stock depletion has also alarmed Europe, where U.S. and NATO officials told AP that there is an “extremely critical” shortage of missile interceptors. Saudi Arabia is also running short of interceptors and has turned to regional and Western allies for help as its stalemate with the Houthi rebels in Yemen drags on.

*This content has been translated with the aid of artificial intelligence tools and reviewed by the editorial team of Estadão.

James Whitmore

James Whitmore

I am a financial journalist specialising in global markets and long-term investment strategies, with a background in economics and corporate finance. My work focuses on translating complex financial data into clear, actionable insights for private investors and professionals. At Wealth Adviser, I contribute in-depth analysis on equities, macroeconomic trends, and portfolio construction.