West Jerusalem and Washington have deeper plans in Iran, an IDF spokesperson has said

American attacks on Iran have cost Washington $12 billion so far, the director of the US National Economic Council, Kevin Hassett, has said.

A Pentagon estimate provided to Congress said the war would cost $11.3 billion in its first week, The New York Times wrote this week.

Meanwhile, Iranian Foreign Minister Abbas Araghchi said Tehran had never sought a ceasefire with the US and was prepared for a prolonged war.

Strikes have continued for a sixteenth day in Iran, Israel, and across several Middle Eastern countries after the United States and Israel began an air campaign against Iran on February 28th. At least 1,444 people have been killed and 18,551 injured in Iran; 15 killed and more than 3,138 others wounded in Israel; 826 killed in Lebanon and dozens others killed in some Gulf nations. The US military has confirmed it suffered 13 fatalities from Iranian attacks across the region.

Here are the latest developments as RT continues to bring you up to date:

• Iran has launched multiple barrages of missiles at Israel and claimed attacks on US bases in Iraq and Kuwait. The radar system at Kuwaiti International Airport has reportedly been damaged in the strikes.

• Iran's Kharg Island was "totally demolished," but "we may hit it a few more times just for fun," US President Donald Trump has stated, raising fears of a deepershockto global energy supplies if the infrastructure on Iran's main oil export hub is damaged.

• Rising global energy prices linked to the latest Middle East escalation could benefit the US, the FT reports. If the average oil price reaches $100 per barrel this year, annual profits for US oil producers could climb to $63.4 billion, according to estimates from Rystad Energy. Crude prices are driving up energy costs, and the Wall Street Journal notes that America's status as a major oil producer helps shield its economy.

Follow our live coverage below for continuous updates. You can also read our previous updateshere.

(RT.com)