Trump concedes Iran war cost GOP midterms, would repeat it

Summary

Trump's acknowledgment that the Iran war helped cost Republicans the midterm elections, and his statement that he would make the same decision again, leaves the conflict between a negotiated exit and renewed strikes.⁠12

Democrats won control of both chambers of Congress, and Trump's remarks came as officials inside the administration were still debating what to do next.⁠23

Investors wagered that a Democratic-led Congress could speed an end to the war, and Brent crude fell 8.7% on Wednesday to $94.62 a barrel, slipping below $100 on Thursday.⁠4

The Strait of Hormuz has not calmed: Iranian authorities reported fires on five oil tankers and a tugboat after they struck naval mines, a sign that maritime risk has not eased.⁠5

In Paraguay, President Santiago Peña resigned on Thursday amid a crisis over the closure of the digital bank Ueno, as Congress had already taken first steps toward impeachment.⁠6

In the Democratic Republic of Congo, the World Health Organization warned of what it described as the country's worst cholera outbreak in decades, with 1,800 deaths recorded.⁠7

The next test for the Trump administration's Iran war is the new Congress, which convenes in January and can challenge the spending that sustains the conflict.⁠8