25 June 2026

Was It Worth It? The True Cost of Trump’s Iran War

Council on Foreign Relations  |  Max Boot

The Iran war concluded with a Memorandum of Understanding (MOU) on Wednesday, granting Iran sanctions relief, reconstruction funds, and the ability to charge tolls on the Strait of Hormuz, despite significant human, economic, and military costs. The conflict caused 13 U.S. troop deaths, over 3,375 Iranian casualties, 26 deaths in Israel, and thousands in Lebanon.

U.S. consumers and taxpayers incurred about $132 billion, with gasoline prices peaking at $4.56 a gallon, contributing to a global economic growth downgrade to 2.5 percent. The Pentagon requested $80 billion in supplemental funding, not including repairs to 20 damaged U.S. bases or replacing 42 lost aircraft. Over 2,500 high-end U.S. missiles were expended, including over half of the prewar Patriot inventory, requiring up to six years to replace and weakening U.S. readiness against China or Russia. Iran, despite $300 billion in damage, emerged with its regime intact and most drones and missiles operational. The MOU's terms, including a $300 billion reconstruction fund, largely cover reopening the Strait of Hormuz, which Iran closed, causing an energy crisis. Iran intends to charge “user fees” for the Strait, potentially emboldening it to rebuild its military and support proxy groups.

No comments: