Washington: The US has allocated approximately $12 billion since the inception of joint military strikes with Israel on Iran, as disclosed by White House economic adviser Kevin Hassett. This announcement comes amidst efforts by the Trump administration to assuage public concerns regarding the economic repercussions of the ongoing conflict.
According to Anadolu Agency, Hassett clarified during an interview with CBS News that the $12 billion expenditure is not indicative of the total cost for a projected six-week campaign. He emphasized that the administration does not foresee the necessity for additional congressional funding, as existing weapons stockpiles are deemed sufficient for the continuation of operations.
The reported figures align with earlier information from the New York Times, which referred to a Pentagon briefing estimating costs at over $11.3 billion within the first six days of the campaign. Hassett further elaborated on the timeline, indicating that Defense Department officials expect the mission to span four to six weeks, with current progress being ahead of schedule.
In a related development, US Energy Secretary Chris Wright, speaking to ABC News, expressed confidence that the conflict "will certainly come to an end in the next few weeks." Meanwhile, Hassett sought to mitigate anxieties regarding potential supply chain disruptions by revealing government initiatives to expand permits for Venezuelan operations and secure alternative fertilizer sources from Morocco and Venezuela to support American agriculture.
Addressing concerns over jet fuel shortages stemming from disrupted Asian supplies, Hassett mentioned that the administration is facilitating increased foreign vessel transit from the Gulf of Mexico to the West Coast. He also countered Iranian warnings of economic damage by highlighting America's robust position as a major oil producer, which offers greater resilience compared to the 1970s energy crisis.
The US-Israeli military strikes on Iran, which commenced on February 28, have reportedly resulted in approximately 1,200 fatalities, including the then-Supreme Leader Ayatollah Ali Khamenei. The campaign has also claimed the lives of fourteen US service members, with Anadolu Agency estimating US asset losses at around $3.84 billion in the initial two weeks of operations.