US: Iran war cost hits $12bn

The United States has spent about $12bn on its military campaign against Iran since joint strikes with Israel began on February 28, according to White House economic adviser Kevin Hassett. Speaking on CBS, Hassett said that was the latest figure he had received, even as questions grow in Washington about how long the conflict will last and how much more it may cost. Reports Aljazeera.com.

Hassett argued that the war would not seriously damage the US economy, saying America now produces enough oil to avoid the kind of energy shock seen decades ago. Still, markets remain nervous after Iranian threats around the Strait of Hormuz, a key route for roughly one fifth of global oil supplies. US consumers have also been worried by higher fuel prices.

At the same time, the administration faces criticism over its changing explanation for the war. Officials have variously described the goal as stopping Iran’s nuclear programme, weakening its missile forces and now potentially targeting oil infrastructure. Defense Secretary Pete Hegseth has warned that the bombing campaign could intensify, adding to concerns over rising costs and expanding aims.

The human toll is also mounting. Since February 28, at least 1,444 people have reportedly been killed in Iran. Thirteen US service members have died and more than 140 have been wounded. The conflict has also spilled into Lebanon, while some countries, including India, are now dealing directly with Tehran to protect oil shipments.