Here's how much the the Iran war cost — and how its effects will linger

Key Points:

• The Iran war, though relatively short, caused significant casualties with 13 U.S. service members and over 3,300 Iranians killed, alongside thousands more deaths in Lebanon, Israel, and Gulf states, and has led to lasting economic and geopolitical impacts.
• Domestically, the U.S. has incurred approximately $132 billion in costs, driven largely by surging energy prices due to the near shutdown of the Strait of Hormuz, which spiked gasoline and diesel prices and increased transportation and mortgage costs.
• Globally, the conflict has disrupted energy markets and supply chains, leading to reduced economic growth forecasts by the World Bank and IMF, with Middle Eastern economies particularly hard-hit, including a sharp decline in Gulf GDP growth and damage to Iran’s infrastructure requiring a $300 billion reconstruction plan.
• Military expenses for the U.S. have reached $29 billion, including operational costs and equipment repair, with additional unquantified expenses for damaged bases in the Middle East; a supplemental budget request is anticipated.
• Politically, the war negatively affected President Trump’s approval ratings, widening the gap between approval and disapproval during the conflict period, though some recovery has occurred since then.