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$25bn or $1 trillion: How much has Iran war really cost the US?

Russia invaded Ukraine. The Brent crude benchmark has been trading above $120. The 40 percent rise in gas prices, compared with before the war, has led to the president’s approval rating hitting a record

First Thing: China trip winds down but Trump-Xi Iran accord remains elusive

drone strike on 14 May. Photograph: Gleb Garanich/Reuters At least 24 people, including three children, were [reported killed in yesterday’s Russian attacks on Kyiv](https://www.theguardian.com/world/live/2026/may/15/russian-attack-kyiv-ukraine-europe-live-updates-latest?page=with%3Ablock-6a06cc078f08f817fdb23e86#block-6a06cc078f08f817fdb23e86), Ukraine’s president Volodymyr Zelenskyy said

Turkiye unveils its first intercontinental ballistic missile: What we know

strikes by attacking US military assets and infrastructure in the Middle East, Ankara [reported](/news/2026/3/18/turkiye-says-nato-bringing-in-more-defences-after-missile-interceptions#:~:text=NATO%20air%20defences%20shot%20down,second%20missile%20on%20March%209.) that NATO’s air defences shot down ballistic missiles