Iran-backed militias funnel money to IRGC amid economic crisis, CENTCOM commander Cooper says

What Happened

According to Axios, US Central Command (CENTCOM) chief Adm. Brad Cooper said Iran-backed militias, including Hezbollah, Hamas, and militias in Iraq, have been redirecting money to Iran's Islamic Revolutionary Guard Corps (IRGC) amid Tehran's mounting economic pressure after nine months of war. Cooper claimed a US naval blockade has cost Iran an estimated $25 billion in lost oil revenue, and that CENTCOM and the US Treasury Department froze $350 million in Iranian cryptocurrency assets in recent weeks. Cooper said the financial strain had become severe enough that Iran-aligned militias were reportedly withholding payments from their own fighters to funnel money back to the IRGC, which was also struggling to pay its troops. He attributed increased Iranian attacks on shipping in the Strait of Hormuz to desperation within the IRGC, while stating the waterway remained open with 400 ships and 100 million barrels of oil passing through in the previous week. Axios also reported that CENTCOM has mostly paused strikes on Iranian military positions threatening the Strait of Hormuz in recent weeks, and that the White House and Qatari mediators were awaiting Iran's response to a US counterproposal aimed at ending the war. A US official cited by Axios said the pause was ordered to avoid escalating before US midterm elections, as President Donald Trump's approval rating dipped to 38% in NBC News polling. US officials believe Iran is increasing attacks on ships transiting Hormuz to raise oil prices and pressure Trump ahead of the midterm elections, Axios reported.

Key Actors

Why It Matters

The reported financial strain on the IRGC and its proxy network suggests US economic measures are squeezing Iran's ability to sustain regional operations, but the claims come from US military leadership and cannot be independently verified. A pause in US strikes ahead of US midterm elections, paired with Iranian shipping attacks allegedly aimed at raising oil prices, shows how the Strait of Hormuz and Iran's economic pain are being leveraged for political and strategic effect.

Watch For

Iran's response to the US counterproposal via Qatari mediators; whether Iran-aligned militias publicly confirm or deny withholding fighter pay; any resumption of CENTCOM strikes on Iranian positions near Hormuz after the US midterm elections; and changes in shipping attack frequency, oil prices, and Trump administration approval polling.