U.S. Military Escalates Iran Campaign, Investment Hits $37.5 Billion on 11th Consecutive Night of Airstrikes

According to BlockBeats, on July 22, the U.S. launched its 11th consecutive airstrike against Iran, with Defense Secretary Hegises confirming that the U.S. government has invested at least $37.5 billion in military operations. Officials indicated that continued military action over the coming months could require nearly double this amount in additional funding.

The U.S. Central Command targeted Iranian aircraft hangars and drone storage facilities to degrade Iran's ability to threaten shipping in the Strait of Hormuz. Iran retaliated with new strikes on U.S. facilities in Jordan, Bahrain, and Kuwait. The escalation has disrupted energy markets, with oil prices rising due to shipping impacts on the Strait of Hormuz, while Houthi-backed forces announced a blockade of Saudi Arabia, prompting vessels to reroute around the Red Sea.