BlockBeats report: On May 12, U.S. Department of Defense officials stated that the cost of war stemming from U.S.-Iran tensions has increased by another $4 billion compared to two weeks ago, bringing the total accumulated cost to approximately $29 billion. U.S. Defense Comptroller Jay Hurst told a congressional hearing on Tuesday local time that the rising costs are primarily due to "updated expenses for equipment repair and replacement, as well as increased overall operational expenditures."
Previously, Hurst told Congress at the end of April that the total cost of the war was approximately $25 billion. The report notes that while the Pentagon’s current public estimate is $29 billion, some external institutions believe that when accounting for long-term military deployments, energy market disruptions, and macroeconomic impacts, the overall economic cost of this conflict could approach $200 billion.