Our latest reports on the Iran war | 60 Minutes Full Episodes

Raza Pahlavi, son of the last Shah, sees the current conflict as an opportunity for the Iranian regime's collapse. He envisions leading a transitional government towards a secular, democratic Iran based on territorial integrity, separation of religion and state, equality under law, and individual liberties. He advocates for peace with Israel and the complete dismantling of Iran's nuclear weapons program, rejecting the idea of becoming a king.

Pahlavi states, 'I'm not running for office... They trust me as the transitional leader, not as the future king or future president.' He outlines four core principles: territorial integrity, separation of religion from state, equality of citizens, and a democratic process. He also confirms, 'I imagine peace with Israel,' and regarding nuclear weapons, 'I think it should be totally dismantled.'

Defense Secretary Pete Hegseth outlines the US strategy of 'unconditional surrender' for Iran, emphasizing that the US and Israeli air forces possess overwhelming capabilities. He clarifies that this is not a traditional 'regime change war' with massive ground troop deployments, but rather a targeted campaign to render Iran combat ineffective. While denying current 'boots on the ground,' he maintains the right to use any option necessary to achieve objectives.

Hegseth states, 'We're fighting to win. It means we set the terms. We'll know when they're not capable of fighting.' He adds, 'This is not a regime change war, but the regime has changed. That's obvious. Can you square the two? Sure. Go ahead. I meant what I said. It's not a regime change war in the conventional George W. Bush context of hundreds of thousands of troops.' He also confirms, 'We reserve the right... to take any particular option, whether it included boots on the ground or no boots on the ground.'

Iran's blockade of the Strait of Hormuz, a critical waterway for 20% of the world's oil, has brought commercial shipping to a standstill. This unprecedented closure has caused US gas prices to rise by over 65 cents per gallon, with projections of new record highs. The disruption extends to jet and diesel fuel, threatening higher plane tickets and grocery prices, demonstrating a direct trickle-down effect on the global supply chain.

Matt Smith, an oil market analyst, notes that daily ship traffic dropped from 100 to 'one or two tankers' after the war began. Bob McNally, an energy advisor, calls it 'the mother of all choke points' and warns of 'new records' for gas prices if Hormuz isn't reopened. Captain Zilka Lemuster confirms, 'all navigating through the straight of hormones is forbidden,' leading to 'hundreds if not thousands of ships sitting hovering outside.'

Iran's mass-produced Shahed drones, costing as little as $20,000, are inflicting significant damage and casualties, including on US service members. These low-tech drones are draining US weapon stockpiles, as expensive anti-missile interceptors (costing millions) are used to counter them. Laser defense systems, like AV's Locust, are emerging as a cost-effective solution, capable of shooting down drones for as little as $3 per shot, though scaling production and deployment remain challenges.

The report highlights that 'Iranian drones are a drain on the US weapon stockpiles.' Wahed Nawabi, CEO of Aervironment, states a Patriot missile costs '$4 million a shot,' while a laser shot costs 'less than $5 a shot.' Mara Carlin, former Pentagon official, notes the US 'did not go into this war prepared for other threats like drones hitting soft targets.'

Despite US claims of obliterating Iran's nuclear infrastructure, international monitors estimate Iran still possesses nearly 1,000 pounds of 60% enriched uranium, enough for 10-11 nuclear bombs. This material is stored in deep, fortified tunnels at facilities like Isfahan and Pickaxe Mountain, making military removal extremely difficult and risky. Experts suggest a cooperative agreement, similar to 'Project Sapphire' in Kazakhstan, is the only viable path, but distrust makes this unlikely.

Dr. Matthew Bunn states, 'Iran still has enough nuclear material for a bunch of nuclear bombs.' Andrew Weber, who led Project Sapphire, explains that in Iran, 'you would need to set up in the middle of the country a secure perimeter. It would probably take thousands of US troops.' Scott Roker, former NNSA official, emphasizes, 'You want to have a willing partner who's working with you hand-in-hand. I've never seen it done without that.'

A new phenomenon of online prediction markets allows individuals to bet on military decisions and outcomes, leading to alarming instances of insider trading. A US Army Master Sergeant was charged with using classified intelligence from a Venezuela mission to net over $400,000. Analysis by Anti-Corruption Data Collective and Bubble Maps reveals systemic insider trading, with some accounts achieving a 98% win rate on military bets, raising serious national security concerns and the potential for information manipulation.

Rob Schwarz, former CFTC, calls the soldier's actions 'one of the worst betrayals of trust.' Michelle Kendler Cret notes military bets have a '52% success rate' compared to 'Sports 7%.' Nicholas Vimman's firm identified accounts with a '98% win rate' on 'US military operations,' profiting '$2.4 million.' Emanuel Fabian, a journalist, received death threats for a story that voided $22 million in war bets.

Israeli Prime Minister Benjamin Netanyahu asserts the war with Iran is not over until all highly enriched uranium is removed, enrichment sites are dismantled, and Iranian proxies are neutralized. He also expresses a desire for Israel to gradually reduce and eventually eliminate its financial reliance on US military aid over the next decade, citing shifting public attitudes and Israel's growing economic and technological capabilities.

Netanyahu states, 'it's not over because there's still nuclear material, enriched uranium that has to be taken out of Iran.' He also declares, 'I want to draw down to zero the American financial support... I want to start now and do it over the next decade.'