Capitals, March 16 (SANA) – The United States has spent roughly $12 billion on military operations against Iran during the first two weeks of the conflict, according to U.S. officials, as the war continues to disrupt global energy markets.
White House economic adviser Kevin Hassett told CBS News that the figure reflects current operational costs, noting that the campaign could last four to six weeks. He added that the administration does not currently plan to request additional funding from Congress, saying existing weapons stockpiles are sufficient to sustain operations.
The estimate aligns with a report by The New York Times, citing Pentagon briefings, which indicated that the initial phase of the conflict cost more than $11.3 billion, in addition to about $3.8 billion in losses of military assets.
Oil shock hits global markets
Alongside the military escalation, global energy markets have experienced one of their largest supply shocks in decades.
According to Reuters, around 15% of global oil supply—approximately 15 million barrels per day—has been trapped in the Gulf following the closure of the Strait of Hormuz, a critical route for energy exports.
As a result, Brent crude prices have climbed above $100 per barrel, while refined fuel products such as diesel and jet fuel have risen even more sharply amid fears of supply shortages.
Oil-producing countries in the region have attempted to mitigate the disruption by redirecting exports through alternative routes. Saudi Arabia has shifted part of its shipments through the Yanbu port on the Red Sea, handling around five million barrels per day, while the United Arab Emirates has increased exports through Fujairah port, which lies outside the Strait of Hormuz. However, these alternatives remain insufficient to replace the blocked volumes.
Limited options to stabilize supply
The International Energy Agency (IEA) estimates that the spare production capacity of the OPEC+ alliance stands at about 3.9 million barrels per day, but much of it is located in Gulf countries themselves, limiting its usefulness during the ongoing tensions.
In the United States, officials say the administration is exploring additional measures to offset supply shortages. Hassett said these include expanding energy-related permits in Venezuela, securing additional fertilizer imports from Morocco and Venezuela, and allowing more foreign vessels to pass through the Gulf of Mexico to ease shortages in aviation fuel.
Despite financial guarantees offered by Washington to shipping companies, many firms remain reluctant to operate in the region due to security risks. Plans to deploy naval escorts to protect commercial shipping in the Strait of Hormuz could take weeks to implement.
Analysts warn that a prolonged disruption of Gulf energy exports could intensify pressure on the global economy, given the region’s central role in meeting worldwide oil demand.
Kh.A
