The Kurdistan Regional Government (KRG) stated that the regional conflict, which has seen over 1,000 missile and drone attacks on the region since February, has severely impacted its economy. KRG Prime Minister Masrour Barzani noted the region has "paid a heavy price," while a KRG spokesman estimated losses at 1.5 trillion Iraqi dinars ($1.14 billion) by April. Additionally, Iraq's Oil Ministry declared force majeure on all foreign-developed oilfields, citing disruptions to navigation through the Strait of Hormuz, which has halted most of the country’s crude exports.