Defense Secretary Pete Hegseth told lawmakers the U.S.-Iran war has cost $37.5 billion so far, but CBS News reports the true cost may be significantly higher.

Sources familiar with the matter say the Pentagon's estimate excludes major expenses, including military construction and repairs to damaged U.S. bases.

The administration is also seeking an additional $67 billion from Congress to help cover war costs and replenish military supplies.

Source: CBS News

Stephen Miller on Iran:

The results have been very clear. The regime has been eviscerated militarily, financially, politically, in every possible way.

They and everyone watching around the world are learning a clear lesson about America and President Trump.

Stephen Miller on Iran:

If the regime keeps choosing the path of conflict, they aren't going to have the capability of being able to wage war, nor will they have an economy to support a war machine.

That's the choice they face. It's never been clearer.

Sen. Jon Ossoff pressed Defense Secretary Pete Hegseth over his earlier claims that Operation Epic Fury was a “historic and overwhelming victory” and that Iran’s military had been rendered “combat ineffective for years to come.”

Ossoff repeatedly asked whether those statements were accurate, noting Hegseth had also claimed the U.S. had “achieved every single objective.”

Hegseth defended his assessment, saying Iran’s military had been set back “not just years” but likely “decades,” while acknowledging it still retains “capabilities.”

He argued “combat ineffective” did not mean “every single missile was gone.”

Ossoff rejected that explanation, arguing the administration’s stated objectives were not met.

Poland and Hungary are tightening restrictions on non-EU workers to respond to public concerns about immigration, despite warnings from businesses and economists that both countries face serious labor shortages due to aging populations.

Poland has reduced work permits for non-EU citizens, while Hungary has stopped issuing worker visas to several nationalities.

Source: Reuters

Türkiye has issued a NAVTEX notice until August 30 for seismic surveys in the eastern Mediterranean ahead of constructing a 101-km natural gas pipeline linking Türkiye and Northern Cyprus.

The planned bidirectional pipeline would supply gas to the island and could eventually transport Eastern Mediterranean gas to Türkiye and onward to Europe.

Source: Bloomberg

WATCH: Aliyev Blows Up Merz's Denial: Yes, There Was a Secret Russia Meeting in Baku.

At his joint press conference with Chancellor Friedrich Merz in Berlin, Azerbaijani President Ilham Aliyev publicly confirmed that a secret German-Russian backchannel meeting took place in Baku on July 12–14 — moments after Merz flatly denied knowing anything about it.

Asked by Deutsche Welle's Roman Goncharenko about German media reports of "an informal German-Russian meeting" with "former high-ranking politicians from governing parties," Merz said simply:

I know nothing of such a meeting.

Aliyev then contradicted him with forensic detail.

He said Azerbaijan itself only learned of the meeting from The Times, had its border service check the flight records, and confirmed the names:

On July 12, on a flight from Berlin to Baku, two known persons arrived — the former head of the [Chancellor's] administration, Mr. [Ronald] Pofalla, and Mr. [Matthias] Platzeck.

Coming from Moscow to Baku was the former Prime Minister of Russia, Mr. [Viktor] Zubkov, and the head of the civil society council, Mr. [Valery] Fadeyev.

Our territory was used without our information for their meeting.

These flight records give me the ability to say that a secret meeting took place in Baku.

After his failed Alaska meeting with Donald Trump, Vladimir Putin has hardened his stance on Ukraine, abandoning any willingness to discuss territorial concessions.

Anonymous Kremlin sources say Putin now aims to seize all of Ukraine's Donetsk region and retain parts of the Sumy and Kharkiv border areas as buffer zones.

Russia is unlikely to resume peace talks until it achieves these military objectives, despite stronger Ukrainian long-range strikes and the threat of tougher U.S. sanctions.

Source: RBC-Ukraine

The US has collected an estimated 13 billion dollars from Venezuelan oil exports since taking control of the country's oil sales in January, but it has provided little transparency about where the money has gone.

Although Washington initially said it would hold the funds in trust for Venezuela, officials have since given conflicting explanations.

President Trump has said the US is "making a lot of money" from the oil, while the State Department says billions have been returned to Venezuela under strict oversight. Public records show only 300 million dollars has been officially disclosed.

Economists say Venezuela's weaker-than-expected economic recovery suggests much of the oil revenue has not reached the country.

Source: FT

A U.S. soldier captures an Iranian ballistic missile attack at Muwaffaq Salti Air Base, Jordan.

WSJ:

Despite months of U.S. and Israeli strikes, Iran has shown it still has a capable missile force.

A recent missile attack on a U.S. air base in Jordan that killed three American servicemembers suggests Tehran has restored access to underground missile sites and continues to launch advanced ballistic missiles, including the Kheibar Shekan.

Military analysts say Iran has repaired damaged bases, retained significant missile stockpiles, and improved its ability to challenge U.S. air defenses.

While U.S. officials say Iran's missile capabilities have been severely degraded, recent strikes indicate the threat remains substantial.

Sgt. Angel Rampersad, 28, of Ozone Park, New York.

The Trump administration's decision to grant the UAE much broader access to advanced U.S. technologies, despite repeated warnings from career Commerce Department officials, has raised significant concerns.

Officials argued that the UAE, particularly posed a significant risk of sensitive American technology being diverted to China due to its business ties and security vulnerabilities.

Source: Politico

Marco Rubio on Russia-Ukraine:

The war in Ukraine has impeded the ability of Russia and the U.S. to find areas of agreement on other topics.

We think it would be good for Russia if that war came to an end.

The U.S. remains open and willing to play a constructive role in bringing that war to an end.

Marco Rubio on Russia:

We and Russia are the two largest nuclear-armed countries on the planet.

For us not to talk would be reckless and irresponsible.

We have to have a relationship with the Russian government.

Marco Rubio:

The Cuban regime has spent years destabilizing the region.

Reporter: Isn't the MOU inherently flawed because, in paragraph 5, it acknowledges Iran has power in the Strait of Hormuz?

Rubio: I don't think that's what the MOU says. The MOU does not give them the right to launch missiles toward commercial vessels.

Marco Rubio on Iran:

China has been clear that they don't support any tolling or restrictions on global shipping through international waterways.

A statement like that from a country like China is important.

Pakistan has asked the United States for a $10 billion exchange stabilization facility to strengthen its foreign exchange reserves, stabilize the rupee, and reduce reliance on IMF loans.

The request comes after Pakistan helped mediate talks related to the Iran conflict, with Islamabad hoping its diplomatic role will translate into stronger economic ties with Washington.

If approved, the rare U.S. financial backstop would ease Pakistan's liquidity pressures, though the Treasury has not commented and no decision has been announced.

Source: Reuters

Reporter: Is the U.S. trying to get Syria involved with fighting Hezbollah?

Rubio: We have encouraged Syria to focus on its own internal challenges.

Marco Rubio:

The Houthis threatened global shipping in the past. This is not a new threat.

Iran is in the middle of it. Iran is the troublemaker.