Pentagon requests $200 billion for the war, Qatar faces years of repairs — Day 21 of the conflict

On Thursday, the Pentagon submitted a request to Congress for an emergency budget of $200 billion to fund the war with Iran. The sum represents almost a quarter of the annual budget of the US Department of Defense and covers not only the operations themselves but also the replenishment of weapons stockpiles and preparation for further scenarios. Defense Secretary Pete Hegseth, responding to a reporter's question, said: "Killing bad guys costs money." According to analysts from the Center for Strategic and International Studies (CSIS), the first six days of the war cost $11.3 billion and the first twelve days $16.5 billion. NPR ↗ CNBC ↗

Approval is not certain. The Republicans do not have enough votes even within their own party, and most Democrats are likely to reject the budget. Trump has so far claimed that the money is needed "for many reasons, not just because of Iran." Hegseth also refused to set a timeframe for ending the war and denied that the conflict was turning into another "forever war." Bloomberg ↗ CNBC ↗

The Iranian attack on the Qatari industrial city of Ras Laffan, home to the world's largest liquefied natural gas export terminal, caused extensive damage. According to the Qatari energy company QatarEnergy, two of the fourteen LNG plants and one gas-to-liquids (GTL) facility were damaged. The knocked-out capacity represents 12.8 million tons of LNG per year, which is 17 percent of Qatar's exports. Repairs will take three to five years, and annual revenue losses are estimated to reach $20 billion. CNBC ↗ Bloomberg ↗

The analytics firm Wood Mackenzie described the attacks as an event that "fundamentally changes the global outlook for LNG." In response, Qatar declared force majeure on gas deliveries, significantly restricting exports, and expelled Iranian military and security attachés with a 24-hour deadline to leave. CNBC ↗ Al Jazeera ↗

Oil prices, reacting to the attacks on energy infrastructure, briefly jumped to $119 per barrel, then settled around $115 to $116. Since the start of the year, Brent crude has risen by 36 percent. US gasoline prices reached an average of $3.59 per gallon, a 22 percent increase over the month. The European gas benchmark TTF rose by 24 percent. CNBC ↗ Washington Post ↗

The US Federal Reserve on Wednesday left interest rates unchanged and warned of "uncertain" economic conditions. The Fed raised its inflation forecasts for 2026 upward. Chair Jerome Powell stated that higher energy prices would push inflation up in the short term. Markets now expect at most one rate cut in 2026, compared to two to three before the war began. CNN ↗ CNBC ↗

According to updated Al Jazeera data from March 19, 1,444 people have died in Iran since the start of the war and 18,551 have been injured, including more than 200 children. Three million Iranians have been displaced. In Lebanon, the death toll has exceeded a thousand, including 118 children and 40 healthcare workers. On the American side, 13 soldiers have died, six of whom lost their lives when a KC-135 refueling aircraft crashed in Iraq on March 13. Al Jazeera ↗ NPR ↗

Iran continues to refuse capitulation. Foreign Minister Abbas Araghchi stated in an interview with NBC News that Iran must "continue fighting for the good of its people." Iran's Revolutionary Guards warned that if attacks on energy facilities continue, the response will be "without any restrictions, until complete destruction." Meanwhile, Iranian authorities have banned celebrations of Nowruz and the Chaharshanbe Suri holiday. NBC News ↗ Al Jazeera ↗

Ordinary Iranians are feeling the war with Iran significantly. According to an NPR report, a 49-year-old fashion designer from Tehran said she almost never leaves her home. A 35-year-old shop owner described how members of the Basij militia are frightened. An Iranian writer captured the atmosphere with the words: "At dusk, after the explosions, silence falls over the streets, and then only the cawing of crows can be heard." Armed teenagers from the Basij patrol the streets, and military patrols control the cities. NPR ↗