US military completes 11th night of strikes on Iran as war cost hits $37.5bn

The protracted conflict between the United States and Iran has reached a critical point, with the financial toll on the US now estimated at $37.5 billion. This figure was confirmed by Defense Secretary Pete Hegseth on July 21, 2026, during a Senate Appropriations Committee hearing, where he defended a request for additional funding for the Department of Defense. The war, which reportedly began in late February 2026, has seen continuous military engagement and escalating tensions.

The human cost of the conflict has also risen, with reports indicating that 18 American service members have been killed since the war's inception. Recent casualties include four soldiers in mid-July 2026, with three dying in an Iranian attack in Jordan and another in Iraq during a controlled detonation of an Iranian drone. Nearly 100 US service members have sustained injuries this month, though most have returned to duty.

Amidst these escalations, military strikes have persisted, with the US military concluding its eleventh consecutive night of attacks on Iran on July 21-22, 2026. These strikes targeted Iranian military command centers, maritime capabilities, missile and drone sites, and air defense systems, primarily aimed at degrading Iran's ability to threaten commercial shipping in the Strait of Hormuz. Diplomatic efforts to de-escalate the conflict appear to be overshadowed by the ongoing military actions, with a previously shaky ceasefire having collapsed.