China refiners keep buying Iranian oil despite US pressure, imports slow - Reuters

Iran is unlikely to make meaningful concessions in its next proposal to the United States, expected in the coming days, the Institute for the Study of War said on Wednesday.

The report said Ahmad Vahidi appears unwilling to compromise on control of the Strait of Hormuz or Iran’s nuclear program, with Iranian factions aligning behind a hardline stance.

It added Tehran may repackage its position without conceding core demands and is preparing for prolonged pressure, including economic strain or renewed conflict, while likely rebuilding missile and drone capabilities during the ceasefire.

Iran moved to build a large missile arsenal to deter further attacks after US strikes, Senator John Kennedy said, arguing the shift posed a broader threat beyond the region.

Speaking to Fox News, Kennedy said US intelligence indicated Tehran planned to stockpile ballistic and cruise missiles as well as drones.

"Their new plan was to produce and stockpile so many missiles—ballistic, cruise, and drones—that they could turn to Americans and say, ‘Look, we’re going to restart our nuclear program. And if you bomb us again, you can—but we’re going to destroy the Middle East with our stockpile of missiles. And by the way, we can hit Berlin, London, and Paris.’ We couldn’t let that happen, and President Trump didn’t let it happen," Kennedy said.

The cost of the Iran war to the United States may be significantly higher than official Pentagon figures, with internal estimates suggesting it could reach $40–50 billion, according to CNN.

The Pentagon on Wednesday publicly put the cost of the conflict at around $25 billion, but sources cited by CNN said the figure does not include extensive damage to US military installations in the region or the cost of rebuilding them.

Individuals familiar with the matter said the higher estimate factors in reconstruction of bases and replacement of destroyed military assets following Iranian strikes across several Persian Gulf states in the early stages of the war.

The report said US facilities in Bahrain, Kuwait, Iraq, the United Arab Emirates and Qatar were among those damaged, with key radar systems and other equipment also reportedly hit.

Pentagon officials told Congress the $25 billion figure largely reflects munitions spending, while acknowledging that a full accounting of overseas damage has not yet been completed.

Skydio announced on Wednesday a $3.5 billion investment to expand its US manufacturing footprint and accelerate its research and development capabilities.

The announcement was shared by the White House on X, saying the move would boost American drone production and strengthen domestic technological capacity.

The company said the investment is aimed at scaling production and advancing the development of its autonomous drone systems.

Iran’s Speaker of Parliament Mohammad Bagher Ghalibaf dismissed US efforts about the effectiveness of pressure on Iran’s oil sector, making sarcastic remarks directed at Treasury Secretary Scott Bessent and saying the impact of a blockade been overestimated.

"3 days in, no well exploded.We could extend to 30 and livestream the well here. That was the kind of junk advice the US admin gets from people like Bessent who also push the blockade theory and cranked oil up to $120+. Next stop:140. The issue isn't the theory, it's the mindset," Ghalibaf posted on X.