The Telegraph: The war with Iran may have cost the U.S. more than $150 billion

The U.S. military operation against Iran, which began on February 28, may already have cost the American economy more than $151 billion, although the Pentagon officially acknowledges expenses of only $37.5 billion. These conclusions were reached by The Telegraph after analyzing the direct and indirect consequences of the conflict.

According to the newspaper, if hostilities continue at the current pace, the total losses to the U.S. economy could reach $311 billion by the end of the year.

U.S. Defense Secretary Pete Hegseth previously said that the war had already cost the budget at least $37.5 billion, but experts believe this amount reflects only part of the real expenses.

Harvard University professor Linda Bilmes, who specializes in the economics of war, noted that the official estimate does not take into account long-term costs, including servicing the national debt, rising fuel prices, restoring military equipment, and the broader economic consequences for the country. In her view, the total cost of the conflict could eventually approach $1 trillion.

According to The Telegraph, the war has already led to a noticeable rise in energy prices: gasoline prices in the U.S. were about 21.7% higher than they would have been without the conflict, while diesel prices were 36.7% higher.

The newspaper also highlights the human toll. By its count, 18 American service members were killed during the conflict, although the Pentagon officially recognizes 14 deaths, excluding four service members who died after the ceasefire declared in April.

Analysts warn that a prolonged war affects not only the American economy but also Washington’s strategic capabilities. In their view, the diversion of financial and military resources to the Middle East limits the U.S. ability to deter China and Russia in other regions of the world.

Experts remind that the real costs of military campaigns usually become clear only years later. As an example, they cite the war in Afghanistan, which according to final estimates cost the U.S. about $2.26 trillion.