Camilla Jessen
Pentagon reveals staggering cost of one week of war with Iran.
The United States has already spent billions of dollars in the first week of its military campaign against Iran, according to figures shared with Congress by Pentagon officials.
US defence officials told lawmakers that the first week of operations has cost about $6 billion.
Roughly $4 billion of that total was spent on munitions and advanced missile defence interceptors used during the fighting.
According to The New York Times, some Republican lawmakers expect the Trump administration to request additional funding from Congress if the conflict continues.
Operation Epic Fury
The fighting began after US and Israeli forces launched strikes on targets in Tehran on February 28 as part of Operation Epic Fury.
The attack reportedly killed Iran’s Supreme Leader Ali Khamenei at his residence in the capital.
Iran later responded with strikes targeting US bases in neighbouring countries.
US Central Command commander Adm. Brad Cooper said the campaign has significantly reduced Iran’s ability to launch attacks.
According to Daily Sabah, Cooper told reporters that Iranian ballistic missile launches have dropped by about 90 percent since the start of the conflict.
He also said drone attacks from Iran have fallen by roughly 83 percent.
Economic pressure
The war has also begun to affect the US economy.
Some drivers have reported gasoline prices rising by around 20 to 30 cents per gallon.
Goldman Sachs estimates inflation could reach 2.7 percent by May if energy prices remain elevated.
Financial experts say the long-term economic impact will depend on how long the conflict lasts.
JPMorgan Chase CEO Jamie Dimon told CNBC that inflation could remain manageable if the war ends quickly.
“If it’s not prolonged, it’s not going to be a major inflationary hit,” he said. “Again, if it went on for a long time, that would be different.”
President Donald Trump has also warned that the conflict could last longer than early estimates.
Initial projections suggested four to five weeks of fighting, but the president said it could “go far longer than that” because the US military has the capability to continue operations.
Sources: The New York Times, Daily Sabah, CNBC
