Trump says US not in 'a hurry' to agree deal with Iran

The president has said the U.S. will not resume strikes before the midterms.

Last Updated: November 1, 2026, 11:00 AM EST

Talks between the U.S. and Iran remain stalled despite the two countries signing a memorandum of understanding in June, aimed at ending the war that began with joint American-Israeli strikes on the country in February. The opening strikes killed a host of top Iranian officials and commanders, among them Supreme Leader Ayatollah Ali Khamenei.

The two sides have continued to exchange strikes, though have not returned to the intense fighting seen in the early stages of the conflict. The U.S. says it is enforcing a naval blockade of the country's Persian Gulf and Gulf of Oman ports, while Iran claims control over the strategic Strait of Hormuz and continues to claim attacks on shipping transiting the waterway.

Meanwhile, intensified fighting between Saudi-backed Yemeni forces and Iran-backed Houthi rebels in Yemen has seen the latter repeatedly attack Saudi military, oil infrastructure and transport facilities.

See the most recent developments below.

Key Headlines

Here's how the news is developing.
Oct 28, 2026, 2:54 PM EDT

US military estimates war with Iran now costs $47.1 billion

The U.S. military now estimates that through mid-October, the war with Iran has cost $47 billion dollars, according to a Pentagon document reviewed by ABC News.

The new figure is a $3.5 billion increase from an earlier estimate of $43.6 billion through mid-September that was also compiled by Pentagon. In mid-July, Defense Secretary Pete Hegseth had told Congress that the war had cost $37.5 billion through that time period.

Close to $29 billion worth of munitions have been expended by the U.S. since the start of the war, according to the document.

The costs of operations is estimated to total $11.9 billion, according to the document.

The document does not contain a cost estimate for the damage that Iranian attacks have caused at large U.S. military bases in the region, but it does say that equipment losses, including U.S. military aircraft, totals $6 billion.

The Trump administration does not include the cost of replacing the damage to the bases because it has yet to determine whether those bases will need to be rebuilt.

-ABC News' Luis Martinez

Oct 28, 2026, 6:04 AM EDT

Trump says war will end when 'I want to end it'

President Donald Trump told reporters at Joint Base Andrews on Tuesday night that "anything's possible" when asked if the U.S. would resume strikes on Iran, suggesting that the conflict will end when he decides.

"I think with Iran, we're in a very good position. It's a question: When do I want to end it? Simply a question of when do I want to end it," the president said.

Trump again claimed that Iran wants to make a deal, but suggested that Tehran may be waiting for a more favorable environment before they try to do so.

"They want to make a deal, but they've wanted to make a deal, but they like tapping it along. Maybe they're waiting for the election or something, but that's not going to help them," he said.

President Donald Trump speaks to members of the media upon arrival at Joint Base Andrews after his visit to Texas, in Maryland, on Oct. 28, 2026.
Kevin Lamarque/Reuters

-ABC News' Alex Ederson

Oct 26, 2026, 4:39 PM EDT

Iran's supreme leader details recent meetings

The official Telegram page for Mojtaba Khamenei has released details of two meetings Iran's supreme leader has reportedly held in recent days.

According to the readout, he met with the head of Iran's judiciary, Gholamhossein Mohseni-Ejei, on Saturday, during which the two reportedly discussed pursuing compensation from the U.S. and Israel over damages from the war in Iran. That follows a meeting last week with Mohammad Bagher Ghalibaf, Iran's parliament speaker, during which the two reportedly discussed the latest developments in the war, according to the readout.

Khamenei has not been seen in public since he succeeded his late father in March.

Oct 26, 2026, 6:41 AM EDT

Iran to host security talks with Saudi Arabia, Turkey and Pakistan

Tehran will host a security summit attended by senior officials from Saudi Arabia, Turkey and Pakistan, Iranian Foreign Ministry spokesperson Esmaeil Baqaei told reporters on Monday.

Baqaei described the meeting as "a prelude to establishing indigenous security within the region."

Rayed Krimly, Saudi Arabia's deputy minister for public diplomacy, said in a post to X that Riyadh's delegation will include Defense Minister Khalid bin Salman.

Krimly added that Pakistani army chief Field Marshall Asim Munir and Turkish intelligence chief Ibrahim Kalin will also attend the meeting, which will be chaired by Iranian President Masoud Pezeshkian and Mohsen Rezaei, the secretary of Iran's Supreme National Security Council.

-ABC News' Victoria Beaule and Somayeh Malekian

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