The US military campaign against Iran has cost approximately £23bn ($29bn) in its first three months, according to Pentagon figures, with daily spending averaging £310m ($386.67m). The conflict, which began on 28 February, has resulted in at least 7,053 deaths and displaced over a million people, without achieving any of President Donald Trump's stated objectives.
Pentagon chief financial official Jules Hurst III stated on 12 May that the cost had risen by £3.2bn ($4bn) since late April, driven by repair and replacement expenses and operational costs. However, analysts warn that the true financial burden could reach £800bn ($1 trillion) once hidden costs are included. Professor Linda Bilmes of Harvard Kennedy School described the reported figure as 'the tip of the iceberg', noting that the Pentagon systematically underestimates costs by using historical inventory values rather than current replacement prices.
Professor Bilmes highlighted that a Tomahawk missile valued at £1.6m ($2m) in inventory now costs £2.4m to £2.8m ($3m–$3.5m) to replace, while Patriot missile prices have risen from £800,000 to £1.6m ($1m–$2m) to £3.2m to £4m ($4m–$5m) for newer models. The Center for Strategic and International Studies reported that the US had used over 1,000 Tomahawks and between 1,060 and 1,430 Patriots since 28 February. Professor Bilmes estimated that accrual accounting could double or triple the Pentagon's figure, with an additional £240bn ($300bn) needed for repairs to damaged military sites and embassies.
Long-term costs, including veteran benefits, disability claims, debt interest, and increased Pentagon budgets, could push the total to £800bn ($1 trillion). The conflict has also seen a tenuous ceasefire since 8 April, with both sides accusing each other of violations. A separate ceasefire between Israel and Hezbollah in Lebanon began on 17 April but has also been marred by breaches. The Iranian Red Crescent Society has rescued over 7,300 people, while psychological trauma is deepening among affected populations.
