While the war in Iran is increasingly turning from a regional conflict into a global security and economic chaos, its financial costs are already reaching proportions that could leave long-term and hard-to-foresee consequences for the world economy. Also, according to the most conservative estimates, the conflict has already claimed more than 3.000 lives, with massive material destruction of infrastructure across the country. Middle East.
According to a Washington-based think tank, the war costs nearly $900 million a day. That estimate comes from a report seen by CNN that is based on an analysis of data shared by the Pentagon on targets hit and resources involved in the operation.
US Senator Bernie Sanders criticized the huge costs of the war, pointing out that the total bill for US operations in Iran so far is about 22,8 billion dollars.
"For $22,8 billion, we could provide health care for 6,8 million children, build 2,6 million units of public housing, hire 240.000 teachers and write off $20.000 in student debt for one million people," Sanders said in a post on the X Network.
More money
According to media reports, the Pentagon recently requested another $250 billion in additional funds from the White House to finance operations related to the war, which is now entering its fourth week. Also, according to the same reports, in the first two days of this conflict, about 5,6 billion dollars were spent on ammunition alone, which indicates the extremely high intensity of military operations and the rapid consumption of resources.
Israel is not exempt from financial pressure either. According to reports in the Jerusalem Post, in closed talks with Prime Minister Benjamin Netanyahu, Israel's security sector has increased its demands to 177 billion shekels (over $48 billion), due to a combination of conflict with Iran and tensions on multiple fronts. The prolongation of the war further increases the fiscal burden on the Israeli economy, which is already operating under the pressure of high mobilization and overall security costs.
At the same time, Iran, fighting an existential battle for survival, has begun to use its strategic advantage in the Strait of Hormuz - one of the most important global points through which about a fifth of the world's oil passes - as a means of economic pressure. The blockade of that passage by the Iranian military is already affecting energy markets, contributing to greater price volatility and creating the risk of chain disruptions in global supply chains.
Consequences for Europe
And Europe, which is already economically and energetically strongly affected by the consequences of the war in Ukraine and the reduction of reliance on Russian energy sources, continues with the same strategy in the current circumstances, even though the flow of energy sources from the Middle East is additionally threatened. Reuters reports that electricity prices in Eastern Europe and Italy "rose faster than in other parts of the continent" during 2026, indicating that "Europe's most gas-dependent economies are among the hardest hit by the ongoing US-Israel war against Iran." The BBC writes that it is the price of gas today in Europe "more than double the level before the war started".
And oil prices continue to rise at a record pace. The latest reports show that at one point they reached as high as $119 per barrel, with estimates that they could continue to rise to $200. The conflict in the Middle East thus threatens to lead to the highest prices of "black gold" on the world market in the last half century.
Crisis on all meridians
The combination of high military costs, rising energy prices and insecurity in maritime traffic is creating conditions reminiscent of previous global crises that preceded recessions. Higher oil and gas prices "spill over" to transport, production and end consumers, which is then reflected through inflation and possible economic crises on all meridians. Also, the continuation of the war increases the risk of a humanitarian and refugee crisis similar to the one in 2015.
US President Donald Trump additionally threatened to "destroy" the world's largest South Pars gas field, which is a key Iranian resource, if Tehran continues its attacks on Qatar. At the same time, he stated that the US "had no knowledge" of Israel's plan to launch an attack on Iran's largest facility, which produces 70 percent of Iran's natural gas.
In parallel, there has been a diplomatic escalation: Saudi Arabia has said it reserves the right to take military action against Iran, while Qatar has decided to expel Iran's military and security attachés, further deepening regional divisions and uncertainty.
Despite intensive military operations and significant losses on all sides, a key strategic problem still remains unresolved: there is neither a clear political framework nor a visible exit strategy for the US to end the conflict, especially in a situation where the other side retains the capacity for asymmetric responses and long-term exhaustion of the adversary through economic and security destabilization.
In such a context, war takes on a dimension that goes beyond the battlefield. It is becoming a test of the endurance of economies, political systems and global trade. And citizens all over the world, unprovoked, will pay the whole guild anyway.
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