Iran War: Israeli Parliament Approves Additional Military Funding

Israel’s parliament has approved the 2026 state budget with a significant increase in defence spending, amid the country’s involvement in conflicts on multiple fronts. Military allocation has risen by more than $10 billion (£8 billion), bringing the total to more than double the pre-2023 Gaza war level. Overall, the national budget reaches $270 billion (£215 billion), making it the largest in Israel’s history. Israel and its ally, the United States (US), have been engaged in war with Iran since 28 February 2026. Additionally, Israel is at war with Hezbollah following its invasion of southern Lebanon, while continuing military operations in Gaza. Local media also report that the government has approved $827 million (£660 million) in emergency funds for the purchase of urgent military equipment. Trump: US wants to “take Iran’s oil” US President Donald Trump told the Financial Times that he wants to “take the oil in Iran.” “Honestly, my favourite thing is to take the oil in Iran, but some stupid people in the US say: ‘why are you doing that?’ Those are stupid people,” Trump said, as quoted by the newspaper. The statement comes as the main US benchmark oil price has again exceeded $100 (£80) per barrel, while Brent has surpassed $115 (£92). Trump also mentioned the possibility of seizing Iran’s oil export port on Kharg Island, saying “maybe we take Kharg Island, maybe not. We have a lot of options.” Meanwhile, The Washington Post reported that the Pentagon is preparing plans for weeks-long ground operations in Iran, though it is unclear if they will be approved. In a separate statement, Trump also said that the US-Israel war has “essentially changed the regime” in Iran, referring to the deaths of several senior Iranian leaders during the conflict. Speaking to reporters on Air Force One, Trump said the deaths of prominent Iranian figures mean the US is now “dealing with different people than we ever dealt with before.” Trump added that he is “pretty sure” a deal can be reached even as fighting continues. Pakistan to host US-Iran talks? Pakistan has announced it will host peace talks between the US and Iran, though there has been no confirmation from either side. Pakistan’s Foreign Minister Ishaq Dar said both countries have asked Pakistan to facilitate negotiations regarding the conflict that has lasted about a month. “Pakistan feels honoured to host and facilitate meaningful talks between the two sides in the coming days, for a comprehensive and sustainable resolution to the ongoing conflict,” he said. However, it remains unclear whether the talks will be direct or indirect. Pakistan has emerged as an unexpected mediator between the warring parties, leveraging what officials describe as quiet diplomacy over weeks and its relatively good relations with both the US and Iran. On the other hand, Iran’s parliamentary speaker has expressed doubts about the plan, calling it a “smokescreen,” especially after reports of around 2,500 US marines arriving in the region. He also warned that Iranian forces are prepared to confront US troops and punish their allies in the area.