War on Iran becomes multi-billion-dollar drain on US economy: Report

Tehran, IRNA – Five months after US President Donald Trump launched a war of aggression against Iran, the war continues to impose a devastating and multi-billion-dollar toll on the American economy.

When the unprovoked assault began on February 28, Trump predicted a swift campaign of “four to five weeks.” However, as the war of aggression rages into August, American taxpayers are shouldering a financial burden far exceeding early Pentagon projections, exposing the deep strategic miscalculation behind the war, according to an article published by The Telegraph on July 28.

“Pete Hegseth, the US defense secretary, acknowledged the war of aggression had already cost the government at least $37.5bn (£28bn), warning that the Pentagon was running out of money.” Yet, this official figure pales in comparison to the true economic shockwaves reverberating through the American economy.

According to an analysis by The Telegraph, “The real cost of the war in Iran to the American economy had reached $151.3bn (£113.8bn) by July 24. If the war continues at the current rate, that figure would climb to $311.3bn by the end of the year. The impact is already filtering through to consumers.

Petrol prices have been 21.7 percent higher than they would have been without the conflict, while diesel prices have been 36.7 per cent higher. The price of Brent crude has leapt from extreme to extreme since the war began, frequently topping $100 (£75) per barrel before crashing back down to the high 60s”.

The American consumer is already feeling the direct impact of the West’s military adventurism. The report indicates that “petrol prices in the US have surged by 21.7 per cent compared to what they would have been without the war, while diesel prices have skyrocketed by 36.7 per cent.” Global energy markets remain in turmoil, with Brent crude prices swinging violently, a direct consequence of the instability unleashed by the US-led aggression.

Further highlighting the operation’s strategic failures, a Telegraph analysis reveals, “Iran has damaged at least 20 US military sites in the region since the start of the war, including three state-of-the-art anti-ballistic missile battery systems at the Al Ruwais and Al Sader air bases in the United Arab Emirates and Muwaffaq Salti Air Base in Jordan.”

Experts suggest the final bill for the United States’ strategic folly in West Asia will be far higher, cementing the war as a lasting and self-inflicted wound on the American economy and its military credibility.