Feed aggregator

Warren Buffett has stepped down as executive chairman of Berkshire Hathaway, bringing another chapter of his six-decade leadership of the investment powerhouse to a close and handing the chairman’s role to his son, Howard Buffett.

The 96-year-old billionaire, who relinquished the CEO position at the beginning of this year, indicated in a letter to Berkshire shareholders that his advancing age was a major factor behind his latest decision.

“Father Time always wins. He has, however, been generous with me,” Buffett wrote Friday.

“He has given me the opportunity to see Berkshire reach a point where I am more confident than ever about what lies ahead. The company is in excellent hands, and I look forward to remaining a shareholder alongside you.”

Buffett was immediately given the title of chairman emeritus. Howard Buffett, who has served as a Berkshire director since 1993, will succeed his father as chairman. The younger Buffett has also held board positions at several other major corporations over the years, including The Coca-Cola Company.

Warren Buffett, whose fortune is estimated by Forbes at approximately $144.7 billion, spent roughly 60 years building Berkshire into one of the world’s most formidable corporate empires. When he took control in 1965, Berkshire was a struggling textile manufacturer. Today, the company is valued at approximately $1.16 trillion.

Buffett became one of the most celebrated investors in modern history through an investment philosophy centered on purchasing strong businesses at attractive prices and holding them for the long term.

Although he is surrendering the chairman’s position, Buffett will not be severing his formal ties with Berkshire.

“As Chairman Emeritus, Mr. Buffett will remain a member of the Board of Directors and will continue to offer his valued judgment and perspective,” Berkshire said in a statement.

The chairman transition follows another historic leadership change at Berkshire earlier this year, when Buffett stepped aside as chief executive and turned the CEO position over to his longtime deputy, Greg Abel.

“Warren’s impact on Berkshire and its owners is without parallel in the history of American business,” Abel said in a statement Friday.

“The culture Warren built and the values he championed will remain at the heart of Berkshire, and Howard will be their guardian.”

Buffett had already spoken openly about the effects of aging when he announced in 2025 that Abel would eventually succeed him as CEO. Although Buffett said at the time that his overall health remained good, he acknowledged that age was beginning to affect his ability to operate at the pace he once had.

He said his balance had occasionally become unsteady, his eyesight was deteriorating, and remembering people’s names had become more difficult. Buffett also acknowledged that Abel was able to accomplish more during a working day than he could.

Buffett publicly revealed Abel as his successor during Berkshire Hathaway’s 2025 annual shareholder meeting, the enormous Omaha gathering that has long been nicknamed the “Woodstock for Capitalists.”

Abel, a Canadian who previously served as Berkshire’s vice chairman, had been widely viewed as Buffett’s eventual successor since 2021. Before taking over as CEO, he played a major role in developing Berkshire’s sprawling energy operations.

Berkshire today owns more than 60 businesses across a broad range of industries. Its companies include Geico, Duracell and Dairy Queen, among many others.

The conglomerate also maintains enormous investments in some of America’s best-known corporations, with major holdings that include American Express, Apple, Bank of America, Coca-Cola and Chevron.

Buffett was born in Omaha, Nebraska, in 1930 and has maintained unusually deep ties to his hometown throughout his extraordinary business career. Berkshire’s headquarters remain in Omaha, and its annual shareholder gathering brings enormous crowds of investors and business executives to the city each year.

Despite becoming one of the wealthiest people in the world, Buffett has famously continued living in the comparatively modest Omaha house he purchased in 1958 for $31,500. The property has become such a recognizable part of Buffett lore that it is regularly pointed out on guided tours through the city.

Buffett has also spent years steadily giving away much of the fortune he accumulated through Berkshire. Through annual charitable contributions, he has laid out plans aimed at ultimately donating 99% of his wealth, with much of the remaining fortune slated to be distributed through four family-run foundations by 2034.

{Matzav.com}

[COMMUNICATED]

As Lakewood prepares for Yom Tov, dozens of local Kollel families are facing a very different kind of Tishrei — wondering how they will cover even the basic expenses for their families.

For Keren Zichron Tzipora (KZT), the calls have been coming nonstop. The organization exists with one mission: to financially support and uplift Lakewood’s devoted Yungeleit and their families, with a simple message: “We are honored to support your Torah.”

For some families, the clothing gift cards provided by KZT will mean the only new clothing their children receive all year. Baruch Hashem, 20 families were assisted this past week alone — but dozens more are still waiting.

With Erev Yom Kippur quickly approaching, KZT is turning to the Lakewood community to help close the gap.

$500 can sponsor a Kollel family’s Yom Tov, but every amount can make a meaningful difference.

As the Yom HaDin approaches, it is an opportunity to bring tremendous relief to a local family — and enter the new year with the zechus of supporting Torah right here at home.

Who will tip the scales this Tishrei? 

Please Donate Here

Other ways to partner:
Call 24/7: 732-702-8100

Zelle / Venmo / Paypal: kerenzichrontzipora@gmail.com

Mail a check to:
Keren Zichron Tzipora
1511 Newport Drive
Lakewood, NJ 08701

All donations are tax-deductible. Tax ID 87-3452793

Thank you for standing with our Yungeleit. Wishing you a Gmar Chasima Tova.

The Department of Homeland Security is intensifying enforcement against immigration attorneys accused of filing fraudulent or legally baseless asylum applications, warning that lawyers could face substantial financial penalties and other sanctions as the government seeks to reduce a massive backlog in the immigration court system.

DHS General Counsel James Percival issued the warning this week in a letter to the American Immigration Lawyers Association. According to figures cited by DHS, nearly 3.5 million cases were pending in immigration courts as of July, including approximately 2.3 million asylum claims. The department contends that a significant portion of those applications lack a sufficient legal basis.

Percival said that many of the applications DHS considers meritless are contributing to the enormous caseload and slowing the adjudication of claims from migrants who may qualify for asylum. The department says claims based on circumstances including generalized gang violence, domestic violence, economic hardship and broad conditions within an applicant’s home country frequently fail to satisfy the legal requirements for asylum.

DHS further alleged that some applications are being submitted for reasons unrelated to obtaining protection from persecution. According to Percival, “meritless asylum applications are filed to obtain work permits, to delay deportation, and to force a release from custody,” and applications without a reasonable factual or legal foundation “will be dealt with accordingly.”

The warning comes as the Trump administration has moved aggressively to reduce the immigration-case backlog and tighten enforcement against fraud within the asylum system. DHS has said its efforts are intended both to deter fraudulent filings and to allow legitimate asylum applications to be processed more efficiently.

The administration has also increasingly focused on the attorneys who prepare and submit immigration filings. DHS maintains that lawyers who knowingly participate in fraudulent applications can themselves face penalties rather than enforcement being limited to their clients.

That policy was demonstrated in July, when Homeland Security Investigations sought a fine of more than $470,000 against immigration attorney Suraj Raj Singh. The government alleged that Singh filed 118 fraudulent documents across 54 immigration cases, including asylum declarations that authorities said contained nearly identical language and substance. Those allegations remain government claims associated with the enforcement action.

At the time, Percival made clear that DHS intended to pursue attorneys it believes are knowingly participating in immigration fraud.

“Fraudulent asylum claims threaten the safety of the American people, undermine our immigration system, and delay the removal of dangerous criminal illegal aliens.”

“ICE is seeking a fine of more than $470,000 from attorney Suraj Raj Singh. Under President Trump and Secretary Mullin, we will hold attorneys like this accountable and put an end to the practice of defrauding and abusing our immigration system,” Percival said.

The Singh case was not the first such action. DHS previously announced that Homeland Security Investigations was seeking more than $255,000 in fines against immigration attorney Vinod Doddamani. The government alleged that Doddamani prepared and filed 64 fraudulent documents in 32 immigration cases.

Following that enforcement action, Percival issued another warning to immigration attorneys.

“Fraudulent asylum claims threaten the safety of Americans by overwhelming our burdened immigration system and delaying the removal of dangerous criminal aliens.”

Percival added: “Your days of abusing and defrauding our immigration system are over.”

Federal immigration law already contains potentially severe consequences for knowingly filing frivolous asylum applications. Under 8 U.S.C. § 1158(d)(6), an applicant who has received the required notice and is determined to have knowingly filed a frivolous asylum application can become permanently ineligible for most immigration benefits. Federal regulations also provide mechanisms for disciplining attorneys for frivolous filings and other forms of professional misconduct.

The latest DHS letter signals that the department intends to make greater use of those enforcement tools against attorneys as well as applicants. Percival warned that lawyers responsible for false or frivolous filings could face penalties and said DHS will “vigorously pursue all available remedies” in cases involving immigration fraud.

{Matzav.com}

Israel’s ambassador to the United Nations, Danny Danon, sharply criticized New York City Mayor Zohran Mamdani on Thursday, declaring that if anyone should face arrest ahead of Israeli Prime Minister Benjamin Netanyahu’s arrival in New York for the U.N. General Assembly, it should be Mamdani rather than Netanyahu.

The comments came days before Netanyahu is scheduled to arrive in New York, reviving controversy over Mamdani’s past pledge to have the Israeli prime minister arrested on the basis of an International Criminal Court warrant accusing Netanyahu of alleged war crimes and crimes against humanity in Gaza. The United States is not a member of the ICC, and Mamdani’s own administration subsequently concluded that New York City lacked independent legal authority to carry out the warrant.

Mamdani said in July that he had directed the city’s Law Department to examine the legal questions surrounding the warrant. After that review, he acknowledged that City Hall could not independently order Netanyahu’s arrest, while continuing to argue that the warrant should be honored and calling on the federal government to act.

Speaking to reporters in New York on Thursday, Danon assailed Mamdani over his rhetoric concerning Netanyahu and Israel.

“I think he already incited by putting the ridiculous claim that he can or he should arrest the prime minister,” Danon told reporters.

“If someone should be arrested, it’s Mayor Mamdani for inciting, for actually collaborating with the enemy of the United States. He sends these officials to meet with the Iranian ambassador here at the U.N.”

Danon was referring to controversy surrounding a proposed July meeting between a member of Mamdani’s administration and an Iranian representative in New York. Mamdani has disputed the characterization that his administration initiated such contact, saying that the request came from the Iranian side and that, once he learned about it, he made clear that the meeting would not take place.

“I hope that he realizes he has a responsibility,” Danon said of Mamdani, “not to call for people to demonstrate but to take care of the city and to make sure that next week will be a quiet, functioning week for the thousands of people that will come from all around the world to participate in the U.N. high-level week.”

Security preparations are already intensifying around the United Nations, with thousands of visitors and foreign dignitaries expected in Manhattan and numerous demonstrations planned in connection with the General Assembly. City officials have announced a broad security operation involving the NYPD and federal agencies.

Netanyahu is scheduled to address the General Assembly on Sept. 24, two days after President Donald Trump’s scheduled appearance.

Mamdani pushed back Wednesday against suggestions that he had encouraged New Yorkers to protest Netanyahu. His position, he said, has been that New Yorkers have a constitutional right to demonstrate, while the decision whether to do so belongs to them.

“To New Yorkers, I have never encouraged them to protest. What I have always told them is that they have the right to do so in this city,” he said.

“We respect that right, and this is a city that is proud of the Constitution, proud of the First Amendment, and will continue to do so.”

Mamdani has continued to be a vocal critic of the Israeli government since becoming mayor in January. His critics have accused him of contributing to an increasingly hostile climate for Jewish New Yorkers, an accusation Mamdani and his allies have disputed. NYPD figures nevertheless show a continued high level of anti-Jewish hate crimes: during the first seven months of 2026, police confirmed 205 anti-Jewish hate crimes, compared with 189 during the same period in 2025, an increase of 8.5%. Anti-Jewish incidents represented 56.9% of all confirmed hate crimes during that period.

At a security briefing Thursday, Mamdani was also asked whether NYPD officials had urged him to tone down his rhetoric concerning Israel or Netanyahu as police prepare for protests surrounding the General Assembly.

“The conversations that I’ve had with the police department have been purely on standard preparations for this event, as well as standard preparations for keeping New Yorkers safe,” he said. “And I’m fully confident in our police department’s ability to do so, and I’m fully confident in their ability to do so each and every day, even outside of the General Assembly.”

The mayor also said his administration was arranging meetings with foreign officials visiting New York for the annual gathering, though he would not say whether he planned to meet President Trump.

“I will have a few meetings that we’re in the process of setting up at this time, that we’ll share more details about soon,” Mamdani said.

“When it comes to the president, we continue to have a conversation about how best to deliver for this city, and that is a conversation that has been done in person, has been done over the phone, and it will continue so long as either of us have the ability to deliver for the city.”

{Matzav.com}

President Donald Trump said Americans should view sharply higher gasoline prices as a relatively small cost of the U.S. war with Iran, arguing that preventing Tehran from obtaining a nuclear weapon justified the financial burden motorists are facing at the pump.

Trump made the remarks Wednesday during a rally in Gastonia, North Carolina, as the national average price for regular gasoline continued climbing above $4.40 per gallon. By Thursday, AAA put the nationwide average at $4.43 — 16 cents higher than a week earlier and more than $1 above the level one year ago.

“You have a little higher, you have a higher. It’s a very inexpensive price to pay for what we’ve done. Remember that it’s a little more. It’s even if it was, frankly, even if it was a lot more, but that’s gonna come tumbling down. That’s gonna be like a rocket ship in reverse,” Trump said.

The President has repeatedly argued that the economic consequences of the conflict must be weighed against what he describes as the danger posed by Iran’s nuclear program. The war has now stretched beyond six months, despite Trump’s earlier expectations that the fighting would end considerably sooner. On Wednesday, he said, “hopefully we are towards the end,” while indicating that Washington remained open to renewed diplomacy with Tehran.

The rise in gasoline prices has become one of the most visible domestic consequences of the conflict. AAA said Thursday that regular gasoline was averaging $4.43 nationally, approaching the 2026 high of $4.56 recorded on May 21. The organization attributed the latest increase to elevated crude prices and continued volatility surrounding the Strait of Hormuz.

Diesel prices have risen even more dramatically. The national diesel average reached nearly $6.40 per gallon Thursday, according to AAA data cited by CNN, increasing transportation costs for trucking and other industries that rely heavily on diesel fuel.

Oil markets have been shaken repeatedly by developments across the Middle East. Brent crude was trading at approximately $104 per barrel early Friday, while U.S. West Texas Intermediate crude stood near $101.20. Prices eased somewhat after reports that Saudi Arabia was moving to restore part of the capacity of its damaged East-West pipeline, but concerns remain over regional shipping and oil supplies.

The Strait of Hormuz has been particularly important to the surge. Disruptions and threats to shipping through the waterway, one of the world’s most important oil transit routes, have tightened supplies and added a substantial geopolitical premium to crude prices. Iran has also continued military operations in the area; Iranian state media reported Friday that the Revolutionary Guards struck a tanker attempting to pass through the strait.

The conflict has also expanded beyond direct U.S.-Iran fighting. Iran-aligned Houthi forces in Yemen have intensified operations near another critical shipping route, the Bab el-Mandeb Strait, while fighting between Saudi Arabia and the Houthis has further increased concerns about the security of regional energy infrastructure.

Trump has maintained that the higher prices will eventually reverse sharply. At Wednesday’s rally, he compared the expected decline to “rocket ships in reverse,” continuing a series of assurances from the White House that the current energy-price spike will not be permanent.

The President’s comments come as Americans are paying considerably more for fuel than they were before the war. AAA reported that Thursday’s $4.43 average was up from $4.27 just one week earlier and from $4.14 at the beginning of September. The organization said crude oil was averaging around $100 per barrel, compared with prices in the $90 range earlier in the month.

The higher energy costs have also become a political issue heading toward November’s midterm elections. A Marquette Law School poll released this week found that 20% of respondents approved of Trump’s handling of gasoline prices and 19% approved of his handling of inflation and the cost of living.

The White House, however, continues to defend the military campaign. Administration officials say the conflict has inflicted substantial damage on Iran and its economy and argue that military and economic pressure is necessary to prevent Tehran from developing a nuclear weapon. Iran has long denied that it seeks such a weapon. Outside experts have disputed some of the administration’s assessments of the Iranian nuclear threat and say Iran continues to possess a stockpile of highly enriched uranium despite U.S. strikes on nuclear facilities.

Trump has nevertheless continued to suggest that an end to the fighting could be approaching. “Hopefully we are towards the end,” he told reporters Wednesday.

For American motorists, however, the immediate reality remains substantially higher prices at the pump. With regular gasoline approaching this year’s national peak and diesel at record levels, Trump is asking Americans to accept those costs as part of the broader campaign against Iran — describing them as “a very inexpensive price to pay for what we’ve done.”

{Matzav.com}

Iran on Thursday accused the United States of inventing key elements of the dramatic account of an Air Force colonel who survived the downing of his F-15E over Iran and was rescued after nearly two days behind enemy lines, dismissing Washington’s version of the operation as “fictional and unacceptable.” The U.S. military and the airman have presented a detailed account of the April incident, and CBS has aired newly declassified footage related to the rescue.

The officer, whose identity has been withheld for security reasons and who is known publicly by his mission call sign “Bravo,” described his ordeal for the first time during a “60 Minutes” report broadcast Sunday. Bravo was the weapons-systems officer aboard the two-seat F-15E, designated Dude 44, when the aircraft was hit by an Iranian shoulder-fired missile south of Isfahan.

According to Bravo, damage sustained during the attack affected his parachute, leaving him falling toward the ground at an estimated 70 to 100 mph following his ejection. He survived the impact but suffered serious injuries, including a broken back, arm and shoulder.

Iran’s Islamic Revolutionary Guard Corps rejected that account. IRGC spokesman Brig. Gen. Hossein Mohebbi told Iranian state media that “no sound mind would accept [the U.S.] narrative because it is fictional and unacceptable,” characterizing the story as American wartime propaganda.

“The American pilot claimed that he fell at a speed of 160 kilometers per hour and survived, while his parachute did not even open and he crashed into the heart of a mountain,” Mohebbi said, accusing the United States of having fabricated accounts of its military accomplishments in previous conflicts as well.

Mohebbi argued that Washington was publicizing the account of the crash and rescue as the war with Iran continued beyond the six-month mark.

“The U.S. is embarrassing itself with these actions. These films (pilot interview) will definitely not only fail to bring any achievement … but will also become a source of ridicule,” Mohebbi said.

The American account, meanwhile, was considerably more detailed. U.S. Central Command chief Adm. Brad Cooper told CBS that Dude 44 had been conducting a strike against industrial facilities connected to Iran’s drone and missile programs when the aircraft was hit. The mission took place in mountainous terrain south of Isfahan on April 2.

Bravo said he and the aircraft’s pilot, known by the call sign “Alpha,” initially attempted to save the damaged fighter before determining that they had no choice but to eject. The two men came down approximately five miles apart. Alpha’s parachute functioned normally, while Bravo experienced the high-speed descent that he later described to CBS.

Alpha was recovered several hours later during a dangerous daylight operation in which American rescue helicopters came under fire. Bravo, however, remained stranded in Iranian territory as U.S. forces and intelligence agencies worked to locate him while Iranian forces were also searching the region.

Despite his injuries, Bravo said he moved away from his landing site and eventually climbed toward a roughly 7,000-foot ridgeline in an effort to avoid capture. At one point, he was able to communicate with American forces and inform them that he was injured but still mobile.

The effort to retrieve him ultimately became a massive military operation. According to the U.S. account, more than 90 American service members went onto Iranian soil during the rescue, with hundreds more participating in the air and thousands supporting the mission. The CIA also participated, using intelligence capabilities and a deception operation intended to hinder Iranian forces searching for the airman.

Two large search-and-rescue aircraft landed on a makeshift desert strip, after which smaller helicopters were dispatched to reach Bravo’s position in the mountains. The operation encountered another complication when the larger aircraft became stuck in the desert terrain and could not take off. The United States subsequently destroyed those aircraft, along with the smaller helicopters, to prevent sensitive technology from falling into Iranian hands.

Bravo was ultimately recovered approximately 50 hours after his F-15E was shot down, according to the U.S. account. Newly declassified military footage aired by CBS showed portions of the separate operations that retrieved Alpha and Bravo.

The Pentagon and White House have highlighted the operation as an example of the U.S. military’s commitment to recovering personnel behind enemy lines. The White House promoted Bravo’s account this week as an example of what it called the military’s “warrior ethos.”

The “60 Minutes” broadcast, however, has also generated controversy inside the United States. Media reports have alleged that Defense Secretary Pete Hegseth and other Pentagon officials encouraged the airmen to participate in the television report after they expressed reservations about appearing publicly. The Pentagon has disputed claims that the men were forced to participate. Alpha ultimately declined an on-camera interview and instead provided CBS with a written statement.

In that statement, Alpha praised those who carried out the rescue.

“I am still in awe of the professionalism and tactical prowess of the Combat Search and Rescue specialists and the Joint Force who executed the rescue missions of me and DUDE 44 Bravo, both those in theater and behind the scenes,” Alpha said in a statement. “Words cannot capture how thankful my family and I are and how proud I am to serve alongside each and every one of them.”

Bravo, for his part, described his survival after the high-speed fall and nearly two days in hostile territory as a “modern-day miracle.” He said he wanted the episode to be understood as a story about the broader rescue effort rather than simply his own survival.

“It’s a story of the teamwork, the training, of the faith, of the decisions and the leadership to do something that will live in history as an example of what America’s willing to do, in order to uphold our promise and leave no man behind.”

{Matzav.com}

The Trump administration has authorized visas for Iranian President Masoud Pezeshkian, Foreign Minister Abbas Araghchi and other senior members of Iran’s delegation to travel to New York for next week’s United Nations General Assembly, even as the United States and Iran remain at war.

The State Department confirmed Thursday that members of Iran’s “core delegation,” along with personnel deemed necessary to accompany them, had received visas. American officials said Pezeshkian and Araghchi are among those cleared to enter the United States.

“Consistent with our host country obligations, the core delegation from the Iranian regime will be able to attend the UN General Assembly High Level week. The delegation will be under travel restrictions and will face prohibitions on the purchase of luxury and other goods per our policy. The delegation is smaller than last year,” the State Department said.

The approval comes more than six months into the war between Washington and Tehran, with little sign of an imminent breakthrough over either reopening the Strait of Hormuz or restarting negotiations concerning Iran’s nuclear program.

Elsewhere in the region, the Iranian-backed Houthis in Yemen have stepped up attacks targeting Saudi infrastructure and vessels traveling through the Red Sea. The continuing disruptions along the major international shipping route have contributed to increases in global oil prices.

Iran, meanwhile, remains subject to extensive American sanctions and is designated by the United States as a state sponsor of terrorism. The Trump administration has also intensified its economic pressure campaign against Tehran, targeting financial networks that Washington says provide critical sources of revenue to the Iranian government.

The decision to permit the Iranian officials to enter the country comes in the context of the United States’ responsibilities as host nation of the United Nations headquarters in New York. Washington can impose substantial limitations on visiting foreign delegations, and U.S. policy provides exceptions for certain diplomatic and official travel even amid broader restrictions on visas for Iranian nationals.

Iran’s representatives were subjected to similar limits during last year’s General Assembly. Only a restricted delegation was permitted to attend, and the officials faced strict boundaries on where they could travel while in New York. They were also prohibited from making purchases at wholesale membership stores such as Costco and Sam’s Club.

Those rules will remain in force during this year’s gathering. State Department spokesperson Tommy Pigott said Thursday that Iranian UN mission personnel, visiting government officials and their dependents will continue to be prohibited from purchasing luxury merchandise or obtaining memberships at American wholesale clubs.

Pigott, writing on social media, said the restrictions are designed to prevent Iranian officials from turning their trip to the United Nations into an opportunity to purchase expensive goods in the United States.

“While ordinary Iranians endure brutal repression, water and electricity shortages, and soaring inflation, the regime’s officials want to go on shopping sprees in New York. Not on our watch,” he wrote.

“We will not let the Iranian regime’s elites exploit UNGA for a luxury retail splurge paid for by the Iranian people’s suffering, all while the regime funnels Iran’s wealth to support its terrorist proxies. The US will continue to ban Iranian UN Mission officials, visiting officials, and their dependents from buying wholesale club memberships or luxury goods here. New York-area retailers: be on guard, don’t become complicit in these violations,” added Pigott.

Iranian forces have shot down at least two American MQ-1 military drones in recent days, adding to mounting U.S. aircraft losses during the ongoing war with Iran, according to American officials familiar with the incidents.

The U.S. officials, who spoke to CBS News on condition of anonymity because they were not authorized to discuss the matter publicly, confirmed that at least two MQ-1 unmanned aircraft had been brought down by Iranian forces. The circumstances surrounding the shootdowns, including precisely where they occurred, remain unclear.

Officials also did not specify which version of the MQ-1 was lost. The U.S. military has operated two principal variants of the aircraft: the MQ-1 Predator, which was extensively deployed during the wars in Iraq and Afghanistan before the Air Force retired it in 2018, and the larger MQ-1C Gray Eagle, which continues to be operated by the U.S. Army, including by special operations units.

Both aircraft were developed primarily for intelligence-gathering, surveillance and reconnaissance missions, though they are also capable of carrying Hellfire missiles. Such drones can play an important role around the Strait of Hormuz, providing persistent surveillance of the strategically vital waterway while tracking Iranian military activity and identifying potential threats to American forces and commercial shipping.

The financial cost of the latest losses depends heavily on which aircraft were destroyed. If they were older MQ-1 Predators, the two drones would have a combined value of roughly $8 million. Gray Eagles, depending on their configuration, are considerably more expensive and can cost tens of millions of dollars apiece.

The latest shootdowns come amid significant American drone losses during the war with Iran. A Congressional Budget Office report released this week said at least 24 MQ-9 Reaper drones have been lost since the conflict began, with those aircraft valued at approximately $720 million in total. The report also cited the destruction of an MQ-4C Triton, valued at roughly another $150 million.

U.S. Central Command, which oversees American military operations in the region, declined to comment to CBS News about the reported MQ-1 losses.

The new reports emerged as fighting between the United States and Iran continued despite several rounds of negotiations aimed at bringing the conflict to an end. Military operations have persisted across multiple fronts in the region.

Last week, American forces targeted several Iranian oil tankers linked to the Islamic Revolutionary Guard Corps. Iran subsequently responded by firing missiles at American military bases in Jordan.

President Donald Trump said the following day that he believed the war would conclude immediately following the U.S. midterm elections in November, saying Iran “can’t hold out any longer.”

The President on Thursday also signaled that he was weighing a consequential decision regarding the next phase of the U.S. campaign against Tehran.

“I have a big decision coming up. Do I want to go in and annihilate [the Iranian regime] or do I not? It’s a big decision. Anything could happen with me,” Trump told Axios.