Treasury's Bessent Says US Has 'Plenty' of Funds for Iran War

US and Iran flags are seen in this illustration taken June 18, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
US and Iran flags are seen in this illustration taken June 18, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Treasury's Bessent Says US Has 'Plenty' of Funds for Iran War

US and Iran flags are seen in this illustration taken June 18, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
US and Iran flags are seen in this illustration taken June 18, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

The US government has "plenty of money" to fund the war against Iran, but is requesting supplemental funding from Congress to ensure the military is well supplied in the future, US Treasury Secretary Scott Bessent said on Sunday.

Bessent, speaking on NBC News' "Meet the Press" program, also ruled out pushing for any tax increases to fund the war.

The US military's request for $200 billion in additional funding for the Iran war faces stiff opposition in Congress, with Democrats and even some Republicans questioning the need after large defense appropriations last year.

Bessent defended the request without confirming the amount, Reuters reported.

President Donald Trump has not yet sent a request for the Senate and House of Representatives to approve the sum and his administration has made clear that the number could change.

"We have plenty of money to fund this war," Bessent said. "This is supplemental. President Trump has built up the military, as he did in his first term, as he is now doing in his second term, and he wants to make sure that the military is well supplied going forward."

Secretary of Defense Pete Hegseth said last week that the extra money was needed "to ensure that we're properly funded for what's been done, for what we may have to do in the future."

He dismissed a question about possible tax increases as "ridiculous" and said that was "not at all" under consideration.

Early indications suggest that the war will be the most expensive for the US since the long conflicts in Iraq and Afghanistan. Administration officials told lawmakers that the first six days of the Iran war had cost more than $11 billion.

The Republican-led Congress has already approved record funding for the military since Trump began his second term in January 2025. Last month, he signed into law the Fiscal 2026 Defense Appropriations Act with about $840 billion in funding.

And last summer, over opposition from Democrats, the Republican-led Congress passed a sweeping tax cut and spending bill that included $156 billion for defense.

Bessent also defended the Trump administration's moves in recent days to lift sanctions on Iranian and Russian oil. Doing so, he argued, would allow other countries besides China — including Japan and South Korea — to purchase the oil, while preventing oil prices from spiking to $150 per barrel and reducing the overall revenues Iran and Russia would receive.

He said a Treasury analysis showed that the maximum extra amount of oil revenue Russia could get would be $2 billion.



Trump Hints at Resuming Attacks if Ceasefire with Iran Expires Without Deal

IN FLIGHT - APRIL 17: US President Donald Trump speaks to members of the press aboard Air Force One on April 17, 2026 just prior to landing at Joint Base Andrews, Maryland. (Photo by WIN MCNAMEE / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)
IN FLIGHT - APRIL 17: US President Donald Trump speaks to members of the press aboard Air Force One on April 17, 2026 just prior to landing at Joint Base Andrews, Maryland. (Photo by WIN MCNAMEE / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)
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Trump Hints at Resuming Attacks if Ceasefire with Iran Expires Without Deal

IN FLIGHT - APRIL 17: US President Donald Trump speaks to members of the press aboard Air Force One on April 17, 2026 just prior to landing at Joint Base Andrews, Maryland. (Photo by WIN MCNAMEE / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)
IN FLIGHT - APRIL 17: US President Donald Trump speaks to members of the press aboard Air Force One on April 17, 2026 just prior to landing at Joint Base Andrews, Maryland. (Photo by WIN MCNAMEE / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

US President Donald Trump said the blockade of the Strait of Hormuz will remain and attacks will resume if no agreement is reached with Iran, after Tehran said it had fully reopened the strait to commercial vessels but threatened to close it again over the US blockade.

Asked by a reporter Friday night what he will do if there’s no deal when a ceasefire with Iran expires next week, Trump said, “I don’t know. Maybe I won’t extend it, but the blockade is going to remain. But maybe I won’t extend it, so you’ll have a blockade and unfortunately we’ll have to start dropping bombs again.”

However, Trump also told reporters accompanying him aboard Air Force One to Washington that, “I think it’s going to happen,” referring to a deal.

Questions lingered Saturday about how much freedom ships actually had to transit the waterway as Tehran threatened to close it again if the US kept in place its blockade of Iranian ships and ports.

Iran’s Friday announcement about the opening of the crucial body of water, through which 20% of the world’s oil is shipped, came as a 10-day truce between Israel and Hezbollah in Lebanon appeared to hold.

The war with Iran, which began on February 28 with a US-Israeli attack, has killed thousands and sent oil prices surging because of the de facto closure of ⁠the strait.

Trump has told Reuters there would probably be more direct talks between Iran and the US this weekend. Some diplomats said that was unlikely given the logistics of gathering in Islamabad, where the talks are expected to take place.

There were no signs of preparations early on Saturday for talks in the Pakistani capital.


Starmer Rejects Calls to Resign Over Mandelson Appointment as Pressure Builds

 British Prime Minister Keir Starmer leaves after the multinational virtual summit and press conference at the Elysee Presidential Palace in Paris, Friday April 17, 2026 (Tom Nicholson/Pool Photo via AP)
British Prime Minister Keir Starmer leaves after the multinational virtual summit and press conference at the Elysee Presidential Palace in Paris, Friday April 17, 2026 (Tom Nicholson/Pool Photo via AP)
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Starmer Rejects Calls to Resign Over Mandelson Appointment as Pressure Builds

 British Prime Minister Keir Starmer leaves after the multinational virtual summit and press conference at the Elysee Presidential Palace in Paris, Friday April 17, 2026 (Tom Nicholson/Pool Photo via AP)
British Prime Minister Keir Starmer leaves after the multinational virtual summit and press conference at the Elysee Presidential Palace in Paris, Friday April 17, 2026 (Tom Nicholson/Pool Photo via AP)

British Prime Minister Keir Starmer on Friday resisted demands he resign over revelations that his scandal-tainted pick for UK ambassador to Washington was appointed despite failing security checks.

Starmer says he was not informed that the Foreign Office had overruled the recommendation of security officials in early 2025 not to give Peter Mandelson the job. Many considered Mandelson a risky appointment because of his past friendship with convicted sex offender Jeffrey Epstein and alleged business links to Russia and China.

Starmer said he was “absolutely furious” that he had been kept in the dark, calling it staggering” and “unforgivable.” He said he would “set out all the relevant facts in true transparency” to Parliament on Monday.

The top Foreign Office civil servant, Olly Robbins, took the fall for the decision and resigned.

The prime minister's job has been endangered by his fateful decision to appoint Mandelson, a trade expert and elder statesman of the governing Labour Party, as envoy to the Trump administration. It was a calculated risk that backfired spectacularly, and could bring down the prime minister.

Opposition politicians expressed disbelief that Starmer could have been unaware Mandelson had failed security vetting. Starmer said he only found out on Tuesday of this week.

Darren Jones, the chief secretary to the prime minister, said Friday that “the recommendation was to not appoint Peter Mandelson to the role,” and that the Foreign Office ignored it. He said that was “astonishing,” but within the rules.

He said no government minister had been told of the security assessment. People familiar with the process said that is standard practice because of the sensitive personal information involved.

Jones said the checks, carried out by a department known as UK Security Vetting, “go through financial, personal, sexual, religious and other types of background information, and that is why it is kept extremely private on a portal that only a few people have access to.”

Opposition Conservative Party leader Kemi Badenoch said claims the prime minister didn’t know were “completely preposterous.”

“This story does not stack up. The prime minister is taking us for fools,” she told the BBC. “All roads lead to a resignation.”

Ed Davey, the leader of the centrist Liberal Democrats, said Starmer “must go” if he misled Parliament and lied to the British public. The Lib Dems asked the prime minister's ethics adviser to investigate whether Starmer broke the government code of conduct by misleading Parliament.

Starmer has repeatedly insisted that “due process” was followed in the appointment, which was announced in December 2024. Mandelson took up the Washington post in February 2025, after undergoing security vetting.

Mandelson had known Epstein links

Mandelson’s expertise as a former European Union trade chief was considered a major asset in trying to persuade the Trump administration not to slap heavy tariffs on British goods, and seemed to pay off when the countries struck a trade deal in May 2025.

But documents released by the government in March, after being forced by Parliament, showed Starmer ignored red flags raised by his staff about the appointment. He was warned that Mandelson’s friendship with Epstein, who died in prison in 2019, exposed the government to “reputational risk.”

Starmer fired Mandelson in September 2025 after evidence emerged that he had lied about the extent of his links to Epstein.

The release of millions of pages of Epstein-related documents by the US Department of Justice in January reveled more and showed Mandelson’s relationship with the financier continued even after Epstein’s conviction in 2008 for sexual offenses involving a minor.

Emails suggested Mandelson had passed on sensitive, and potentially market-moving, government information to Epstein in 2009 after the global financial crisis.

British police subsequently launched a criminal probe. Mandelson was arrested on Feb. 23 on suspicion of misconduct in public office.

He has been released without bail conditions as the police investigation continues. Mandelson has previously denied wrongdoing and hasn’t been charged. He does not face allegations of sexual misconduct.

King Charles III’s brother, Andrew Mountbatten-Windsor, formerly known as Prince Andrew, is also under police investigation over his friendship with Epstein. He, too, has been arrested but not charged.

Starmer's recent setbacks

The prime minister has apologized to the British public and to Epstein’s victims for believing what he has termed “Mandelson’s lies.”

The Mandelson revelations are among a string of setbacks Starmer has faced since he led the Labour Party to a landslide election victory in July 2024. He has struggled to deliver promised economic growth, repair tattered public services and ease the cost of living, and has been beset by missteps and U-turns.

The prime minister defused a potential crisis in February, when some Labour lawmakers called for him to resign over the Mandelson appointment. But he could face a leadership challenge after local and regional elections on May 7, in which Labour is expected to do badly.

Despite his struggles on the homefront, Starmer has been praised for his work on the world stage. He has played a key role in maintaining European support for Ukraine and was in Paris on Friday to host a summit alongside French President Emmanuel Macron on reopening the Strait of Hormuz, the oil shipping route choked off by the US-Israeli war on Iran.


Trump Says ‘No Sticking Points’ for Iran Deal

 President Donald Trump arrives for a roundtable event about no tax on tips, Thursday, April 16, 2026, in Las Vegas. (AP)
President Donald Trump arrives for a roundtable event about no tax on tips, Thursday, April 16, 2026, in Las Vegas. (AP)
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Trump Says ‘No Sticking Points’ for Iran Deal

 President Donald Trump arrives for a roundtable event about no tax on tips, Thursday, April 16, 2026, in Las Vegas. (AP)
President Donald Trump arrives for a roundtable event about no tax on tips, Thursday, April 16, 2026, in Las Vegas. (AP)

US President Donald Trump told AFP on Friday there were "no sticking points" left for a peace deal with Iran, adding that an agreement was "very close."

Trump's comments came after a series of social media posts in which he touted progress on reopening the Strait of Hormuz and ending Iran's nuclear program.

"We're very close. Looks like it's going to be very good for everybody. And we're very close to having a deal," Trump said in a brief telephone call with AFP from Las Vegas.

"The strait's going to be open, they already are open. And things are going very well."

A first round of US-Iran talks in Pakistan last weekend ended without a peace deal, but Trump has said a second round could happen soon.

Trump has said the core US demand is that Iran should never be able to develop a nuclear weapon, and he said on Thursday that Iran had agreed to turn over its stock of enriched uranium.

Asked what the remaining sticking points for a deal were, Trump replied, "No sticking points at all."

When asked why he was unable to declare a deal at this point after his string of optimistic posts, Trump said he wanted an agreement on paper.

"I don't do that, I get it in writing," Trump added.