M. Fazal Elahi
The sustained, tireless, and well-intentioned efforts of Pakistan’s leadership—represented by its Chief of Defence Forces, Asim Munir, Prime Minister Shehbaz Sharif, and Deputy Prime Minister Ishaq Dar—to bring the principal parties to the U.S.–Israel–Iran conflict, namely the United States and Iran, to the negotiating table, and to facilitate a mutually agreed resolution of this crisis of immense global magnitude, now appear to have reached a concerning impasse.
This deadlock in U.S.–Iran negotiations has become a source of growing anxiety, particularly for countries in the region and, more broadly, for the international community, as they continue to grapple with the escalating economic and strategic repercussions of this grave conflict.
Despite Pakistan’s sincere and proactive diplomatic engagement aimed at fostering dialogue, both Washington and Tehran have thus far failed to bridge their differences and arrive at a comprehensive and mutually acceptable settlement. The persistence of rigid positions and competing national priorities appears to be impeding progress toward peace.
While it is entirely legitimate for both the United States and Iran to seek outcomes that safeguard their respective national interests, a conflict with such far-reaching global consequences demands a higher degree of prudence, flexibility, and statesmanship. Narrow calculations and entrenched positions risk prolonging a crisis whose costs are already being felt worldwide.
Pakistan’s continued efforts to steer this volatile situation away from the brink of a wider catastrophe and toward a durable peace should not be allowed to falter. In their own interest—and in the broader interest of global stability—the United States and Iran must rise above immediate self-interest and demonstrate the sincerity and flexibility required to resolve this dangerous impasse.
The U.S.–Israel–Iran conflict has inflicted a devastating toll on innocent lives, critical infrastructure, and military assets—particularly in Israel and Iran. Since the escalation of U.S.–Israeli operations against Iran around late February 2026, with sustained hostilities continuing for over a month, the financial burden on all three parties—the United States, Israel, and Iran—has been immense.
Reports assessing the first month of intensified conflict point to staggering economic costs, driven by extensive military operations, heavy expenditure on munitions, and widespread infrastructural damage.
*The United States* is estimated to have spent between $20 billion and $25 billion during the initial 30 days of the conflict, according to assessments by the Quincy Institute for Responsible Statecraft and the Pentagon. Some projections indicate that these costs could have exceeded $60 billion if the conflict continued.
*Israel* reportedly incurred approximately $11.5 billion (around ?35–40 billion shekels) in overall expenditures during the same period, with nearly 22 billion shekels allocated specifically to defense-related needs.
Meanwhile, *Iran* is estimated to have suffered roughly $270 billion in direct and indirect damages, based on official assessments. These losses encompass significant destruction to critical infrastructure, as well as damage to oil and gas facilities and military installations.
Taken together, these figures underscore the immense human and economic cost of a conflict whose repercussions extend far beyond the immediate battlefield.
This devastating conflict must come to an end. The mounting economic strain on the global system must be alleviated, and a concerted effort must be made to restore peace and stability without further delay.