White House Says U.S. Has Spent Approximately $12 Billion on War Against Iran
White House economic adviser Kevin Hassett said the United States has spent about $12 billion so far on the war against Iran, adding that officials expect the mission to conclude within four to six weeks.
ERBIL (Kurdistan24) - The White House said the United States has spent approximately $12 billion so far on the war against Iran, according to Kevin Hassett, Director of the National Economic Council.
On Sunday, Kevin Hassett made the remarks during an interview on CBS’ “Face the Nation with Margaret Brennan,” where he discussed the economic impact and projected timeline of the conflict.
During the interview, Hassett said US officials are regularly briefed on developments in the war.
“One of the things that we've been briefed on almost every day is what's going on and what the president is being briefed on with regard to the Iran war,” he said.
Hassett explained that officials from the Department of War had estimated the mission could take between four and six weeks to complete.
“As of yesterday the message was that people, the defense—Department of War believed that it would take four to six weeks to complete this mission and that we're ahead of schedule,” he said.
When asked about the cost of the war, Hassett said the most recent figure he received during briefings was $12 billion.
“The latest number I was briefed on was 12,” he said, referring to billions of dollars spent so far on the conflict.
He clarified that the figure represented the total amount spent up to now rather than the projected total cost.
“The 12 billion was what I was briefed has been spent so far,” Hassett said.
The White House adviser also addressed concerns about the impact of disruptions in the Strait of Hormuz on global oil markets.
He said the United States was monitoring the situation closely and preparing multiple measures to reduce the impact of energy disruptions.
“We are looking at every scenario and we've got a plan for each scenario,” Hassett said.
According to Hassett, officials are studying ways to minimize the effects of energy disruptions, including expanding permits related to energy supply and securing additional sources of fertilizer to support agricultural production.
He also said discussions had taken place to facilitate fuel supply routes in order to prevent disruptions to jet fuel availability.
Hassett added that global energy markets were anticipating a rapid end to the conflict.
“If you look at the futures prices, they are expecting a rapid, rapid end to the situation and much, much lower prices,” he said.
He further said the end of the conflict could lead to a broader economic effect on global markets.
“We expect that the global economy is going to have a big positive shock as soon as this is over,” Hassett said.
The White House says billions of dollars have already been spent on the war against Iran, as US officials continue to monitor the conflict’s economic and energy market consequences.