Operation EPIC FURY: U.S. Admiral Says 38-Day Campaign Rolled Back 40 Years of Iranian Military Investment
Impact Assessment Rationale
MEDIUM: High-row recalibration. A large US campaign against Iranian military assets is relevant to War Risk, Energy, Marine and Political Risk underwriting in the Gulf region. Impact is not HIGH on this event alone because the reported losses are military/state assets and no insured commercial asset damage, closure, vessel/cargo loss, or claims estimate is evidenced.
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Geographic Zone Matches
3 active matches
- JWC Listed AreasRule-basedConfidence 100%
- OFAC Sanctioned CountriesRule-basedConfidence 100%
- EU Sanctions ListRule-basedConfidence 100%
Geographic zone matches are RiskEvents spatial/analytical indicators, not coverage determinations or Lloyd's official classifications.
Summary
U.S. Admiral Brad Cooper of Central Command testified to lawmakers that Operation EPIC FURY, a 38-day US military operation against Iran, inflicted damage equivalent to rolling back 40 years of Iranian military investment. This represents the most comprehensive public damage assessment of the campaign to date. The operation has significant implications for Iranian military capability, regional security, and associated insurance exposures across energy, marine, and war risk lines. The assessment underscores the scale of US strikes on Iranian military infrastructure.
This summary is AI-generated from linked source reports and may change as more information becomes available. See our correction policy for how to report errors.
Structured Intelligence
known
- Admiral Brad Cooper of US Central Command delivered testimony to lawmakers on 14 May 2026
- Operation EPIC FURY lasted 38 days
- Admiral Cooper stated the operation 'rolled back 40 years of Iranian military investment'
reported
- The assessment represents the most sweeping public statement on damage to Iran from the operation
- The operation targeted Iranian military assets broadly
uncertain
- Specific targets destroyed or degraded within Operation EPIC FURY are not detailed in the excerpt
- Whether the operation is concluded or ongoing is not confirmed from the excerpt
- Extent of Iranian naval, missile, or air defence losses is unspecified
Affected Countries
Key Entities
Sources
Wire Service
- Anadolu Agency (Turkish)21 May 2026, 10:18
- Anadolu Agency (Turkish)22 May 2026, 08:28
- Anadolu Agency (Turkish)26 May 2026, 06:24
Trade Media
- gCaptain (Maritime)14 May 2026, 19:20
- FlightGlobal18 May 2026, 11:54
- FlightGlobal18 May 2026, 20:38
- FlightGlobal22 May 2026, 12:00
Mainstream Media
- France 24 English14 May 2026, 20:45
- Al Jazeera Arabic15 May 2026, 02:25
- France 24 English15 May 2026, 03:20
- Al Jazeera Arabic18 May 2026, 11:40
- Al Jazeera Arabic21 May 2026, 12:24
- Al Jazeera Arabic22 May 2026, 00:24
- Asharq Al-Awsat (Arabic)22 May 2026, 11:08
- Al Jazeera Arabic25 May 2026, 09:24
- The Guardian World26 May 2026, 05:08
- BBC World1 Jun 2026, 08:38
Timeline
Corroborating source
BBC Verify analysis of satellite imagery confirms Iranian attacks have damaged at least 20 US military facilities across Saudi Arabia, UAE, Qatar, Kuwait, Iraq, Jordan, Bahrain and Oman since late February 2026, including THAAD batteries, surveillance aircraft, fuel storage, and hangars. The Pentagon estimates total Operation Epic Fury costs at $29bn, with significant repair/replacement costs for destroyed equipment including F-15s, F-35s, MQ-9 drones, and an E-3 Sentry aircraft. The confirmed physical damage to named military and dual-use infrastructure across multiple JWC-listed areas has direct implications for War Risk, Aviation, and Energy books in the London market.
The extent of damage caused to US facilities is difficult to quantify, but a May estimate by the Pentagon put the total cost of Operation Epic Fury at $29bn - with much of that likely to be spent on 'repair or replacement costs for equipment' destroyed in the conflict.
Source: BBC World (Mainstream Media) · View source
Event Closed
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Lifecycle changed
monitoring → closed
Corroborating source
CENTCOM confirmed US forces conducted 'self-defense' strikes on targets in southern Iran, including missile launch sites and Iranian vessels reportedly preparing to lay mines. Iranian media reported 3 killed in strikes on vessels near Lark Island in the Persian Gulf. Explosions were also heard in the port areas of Sirik and Jask on Iran's southern coast.
Hedef alınan noktalar arasında füze fırlatma alanları ile mayın döşeme hazırlığında olduğu belirtilen İran gemilerinin bulunduğunu aktaran Hawkins, ABD'nin 'devam eden ateşkes sürecinde itidalli davranmayı sürdürürken aynı zamanda kuvvetlerini koruyacağını' kaydetti.
Source: Anadolu Agency (Turkish) (Wire Service) · View source
Corroborating source
US Central Command conducted strikes on missile sites in southern Iran and targeted boats allegedly attempting to lay mines, while Iranian negotiators held talks with Qatar's prime minister in Doha. Markets responded with oil price volatility, with Brent crude swinging nearly $5 before partial recovery. Israel simultaneously escalated strikes in Lebanon, broadening the regional conflict picture.
US Central Command claims targets also included boats trying to lay mines, rattling ceasefire, while Iranians meet with Qatari prime minister in Doha. Benchmark US crude declined more than 4%, to $91.59 a barrel. Brent crude, the international standard, gained $1.57 to $94.99 a barrel after falling nearly $5 on Monday.
Source: The Guardian World (Mainstream Media) · View source
Impact changed
high → medium
Corroborating source
Following approximately 40 days of US-Israeli strikes, Iran reportedly retains a significant portion of its missile arsenal, suggesting limited degradation of its offensive capabilities. This has implications for ongoing conflict risk in the Middle East, particularly for war risk and political violence exposures across the region. The persistence of Iranian missile capability maintains elevated threat levels for JWC listed areas including the Persian Gulf, Red Sea, and surrounding territories.
بعد نحو أربعين يومًا من القصف الأمريكي-الإسرائيلي، بقيت إيران تحتفظ بجزء كبير من ترسانتها الصاروخية.
Source: Al Jazeera Arabic (Mainstream Media) · View source
Corroborating source
The Royal International Air Tattoo (RIAT) 2026, scheduled for 17-19 July at RAF Fairford, Gloucestershire, has been cancelled due to the base being occupied by USAF strategic bombers conducting operations against Iran under Operation Epic Fury. More than 20 B-1B and B-52H bombers have been stationed at RAF Fairford since late February as part of the US/Israeli campaign against Iran's leadership and military infrastructure. The base remains operationally active despite a current ceasefire, making civilian airshow access untenable. Ticket holders will be offered refunds, rollovers to RIAT 2027, or the option to donate.
RAF Fairford in Gloucestershire, has since late-February accommodated a significant number of USAF Boeing B-1Bs and B-52Hs, flown as part of the US/Israeli Operation Epic Fury waged against Iran's leadership and military infrastructure. More than 20 of the strategic bombers were positioned at the base at the peak of the campaign.
Source: FlightGlobal (Trade Media) · View source
Corroborating source
A Washington Post report citing a Pentagon assessment reveals that the US military deployed advanced interceptor missiles to protect Israel during the Iran conflict. The assessment shows the US fired more interceptor missiles than Israel itself in defense of the country. This reflects the significant direct US military involvement in active missile defense operations in the Middle East theater.
تقييماً لوزارة الحرب الأميركية (البنتاغون) يظهر أن الجيش الأميركي استخدم صواريخ اعتراضية متطورة لحماية إسرائيل
Source: Asharq Al-Awsat (Arabic) (Mainstream Media) · View source
Corroborating source
According to a Washington Post report cited by Anadolu Agency, the United States expended more advanced missile defense munitions than Israel during joint strikes against Iran that began on February 28, aimed at defending Israel. The military operation resulted in a temporary ceasefire. The report highlights the significant US material contribution to the offensive and defensive operations against Iran.
ABD'nin, 28 Şubat'ta İran'a yönelik İsrail ile başlattığı ve geçici ateşkesle sonuçlanan saldırılarında, İsrail'in savunulması için bu ülkeden daha fazla gelişmiş füze savunma mühimmatı harcadığı öne sürüldü.
Source: Anadolu Agency (Turkish) (Wire Service) · View source
Corroborating source
The Washington Post has revealed that the US military fired approximately half of its THAAD missile stockpile defending Israel during its war with Iran. Bloomberg reported that Iran destroyed approximately $1 billion worth of US drones during the same period. The disclosures highlight significant depletion of US strategic air defense assets and material losses in the ongoing conflict.
كشفت واشنطن بوست أن الجيش الأمريكي أطلق نحو نصف مخزونه من صواريخ 'ثاد' دفاعا عن إسرائيل خلال الحرب على إيران، فيما قالت وكالة بلومبيرغ إن طهران دمرت مسيرّات أمريكية بنحو مليار دولار في الفترة نفسها.
Source: Al Jazeera Arabic (Mainstream Media) · View source
Corroborating source
US intelligence assessments reported by CNN indicate that Iran is rebuilding its military capabilities at a faster pace than anticipated, notwithstanding strikes carried out by the United States and Israel. The report suggests Iran's military reconstitution effort is outpacing earlier projections. This development has significant implications for regional stability and potential escalation risks across the Middle East.
إيران تعيد بناء قدراتها العسكرية بوتيرة أسرع من المتوقع، رغم الضربات الأمريكية والإسرائيلية
Source: Al Jazeera Arabic (Mainstream Media) · View source
Corroborating source
According to a US intelligence report, Iran has been rapidly rebuilding its defense industry infrastructure within months despite heavy bombardment. Iran's military capabilities are being reconstructed at a pace significantly faster than anticipated. This development signals a potential escalation of military capability in the region and raises concerns for regional security and insurance exposure.
ağır bombardımanlara rağmen savunma sanayisi altyapısını aylar içinde ayağa kaldıran İran, askeri kabiliyetlerini beklenenden çok daha hızlı bir şekilde yeniden inşa ediyor.
Source: Anadolu Agency (Turkish) (Wire Service) · View source
Corroborating source
A US Congressional Research Service report released on 13 May 2026 quantifies US military aircraft losses during Operation Epic Fury, the aerial bombing campaign against Iran. The tally of 42 aircraft lost or significantly damaged includes 24 MQ-9A Reaper drones, seven KC-135 Stratotanker refuelling jets, four F-15Es, one F-35A, one E-3 AWACS, one A-10C, one HH-60W helicopter, and two MC-130J transports. The operation, which began in late February, is currently under a tenuous ceasefire, and the Pentagon estimates total campaign costs at $29 billion. Replacement of out-of-production platforms like the MQ-9A and E-3 presents significant capability challenges.
The US military lost or suffered significant damage to 42 aircraft during the aerial bombing campaign against Iran, which is currently in a tenuous ceasefire. Since Operation Epic Fury began in late February, the US Air Force has absorbed significant combat losses across a range of fixed- and rotary-wing aircraft.
Source: FlightGlobal (Trade Media) · View source
Corroborating source
UK Royal Air Force Typhoons based at Akrotiri, Cyprus, have been equipped with BAE Systems APKWS laser-guided rockets for counter-drone operations in the Middle East. The system moved from testing to operational deployment in under two months, following rapid integration and live-fire trials conducted in March and April 2026. The deployment follows ongoing British participation in the US/Israeli air campaign against Iran (Operation Epic Fury), which began 28 February 2026. The UK MoD has also committed Typhoons to future air patrols to protect shipping in the Strait of Hormuz.
The MoD says its deployed assets have accumulated more than a combined 2,500 flying hours since Washington launched its Operation Epic Fury campaign against Tehran on 28 February. On 12 May, the MoD announced that it would commit Typhoons to a future international activity to protect shipping in the Strait of Hormuz.
Source: FlightGlobal (Trade Media) · View source
Corroborating source
American and Israeli strikes have systematically targeted Iranian generals, transforming such targeting from an exception into a standard practice. This has compelled Iran to rebuild its military command structure and reassess its strategic doctrine. The article raises the question of whether the US has inadvertently created a more unpredictable and entrenched adversary in the process.
حوّلت الضربات الأمريكية الإسرائيلية استهداف الجنرالات الإيرانيين من استثناء إلى قاعدة، وأجبرت إيران على إعادة بناء قيادتها ومراجعة عقيدتها.
Source: Al Jazeera Arabic (Mainstream Media) · View source
Status changed to monitoring
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Corroborating source
US President Donald Trump issued a warning that he would not 'be much more patient' with Iran, urging Tehran to reach a deal with Washington. The statement comes amid ongoing US military operations against Iran under Operation EPIC FURY and stalled nuclear/peace negotiations. The liveblog format suggests this is part of ongoing Middle East developments spanning multiple actors and flashpoints.
US President Donald Trump said he would not be much more patient with Iran as he urged Tehran to reach a deal with Washington.
Source: France 24 English (Mainstream Media) · View source
Impact escalated to high
Impact changed from medium to high based on new source intelligence
Corroborating source
US President Donald Trump signalled on Thursday that military operations against Iran could continue, with expectations of a US military move following his return from China. Reports indicate ongoing Israeli-American consultations about resuming the war against Iran. The development represents a potential escalation of the existing US-Iran military confrontation.
لوّح الرئيس الأمريكي دونالد ترمب -أمس الخميس- بمواصلة العمل العسكري ضد إيران، وسط توقعات بتحرك أمريكي بعد عودته من الصين، وأنباء عن مباحثات بين الإسرائيليين والأمريكيين بشأن استئناف الحرب.
Source: Al Jazeera Arabic (Mainstream Media) · View source
Status changed to developing
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Corroborating source
Iran's Foreign Minister Abbas Araghchi publicly accused the United Arab Emirates of playing an active role in the ongoing US-Israeli military campaign against Iran. Araghchi referenced a reported secret meeting between Israeli Prime Minister Benjamin Netanyahu and UAE President Mohammed bin Zayed Al Nahyan during the war, which Abu Dhabi has denied. The accusation marks a significant diplomatic escalation, drawing the UAE directly into the Iran war narrative. France 24's Jerusalem correspondent Noga Tarnopolsky reported on the statements.
Araghchi also referred to what Israel has described as a 'secret' meeting in the UAE during the war between Prime Minister Benjamin Netanyahu and Emirati President Mohammed bin Zayed Al Nahyan -- a visit Abu Dhabi denied took place.
Source: France 24 English (Mainstream Media) · View source
Initial Detection
U.S. Admiral Brad Cooper of Central Command testified to lawmakers that Operation EPIC FURY, a 38-day US military operation against Iran, inflicted damage equivalent to rolling back 40 years of Iranian military investment. This represents the most comprehensive public damage assessment of the campaign to date. The operation has significant implications for Iranian military capability, regional security, and associated insurance exposures across energy, marine, and war risk lines. The assessment underscores the scale of US strikes on Iranian military infrastructure.
Admiral Brad Cooper of U.S. Central Command on Thursday delivered the most sweeping public assessment yet of the damage inflicted on Iran during Operation EPIC FURY, telling lawmakers the 38-day...
Source: gCaptain (Maritime) (Trade Media) · View source