Iran war’s soaring costs raise global escalation fears

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According to recent assessments, the Iran war has already cost about $38 billion, and the U.S. Congressional Budget Office forecasts the financial burden may increase by approximately $3 billion per month as the conflict continues.[14] These figures come as analysts warn of a potential “Great Fuel Crisis,” with global oil prices crossing $100 per barrel and sparking fears of higher fuel costs worldwide, particularly in major importers like India.[7] The combination of sustained military spending and tightening energy markets is amplifying worries about regional escalation, pressure on national budgets, inflationary shocks, and the resilience of global institutions confronted with overlapping security and economic challenges.[7][14]

Sources: Reuters, News24