Iran War Costs 202 Trillion Won, Burdening American Households With 700,000 Won Each

The New York Times reported that the financial burden borne by American taxpayers and consumers due to the Iran war is estimated to be at least $132 billion (202.7 trillion won).

This estimate was calculated by reflecting not only direct military spending but also rising energy and raw material prices, as well as the burden of interest rate hikes.

Earlier, according to a report by the U.S. Department of Defense at a House of Representatives hearing on May 12, the estimated military cost of the Iran war was approximately $29 billion (44.4 trillion won) as of that date.

This does not reflect the costs required to restore facilities at about 10 U.S. military bases damaged by Iranian attacks.

The newspaper pointed out that costs for repairs and maintenance, as well as the cost of deploying aircraft carrier strike groups at sea, should also be additionally reflected.

Experts also point out that replenishing the inventory of ammunition used by the U.S. military will require far more than the original purchase cost.

Among the expensive U.S. assets destroyed by Iranian attacks are the E-3 Sentry military radar reconnaissance aircraft stationed at a base in Saudi Arabia and the U.S. Embassy facilities in Riyadh.

Among these, the price of an E-3 Sentry is around $300 million to $500 million (460 billion to 770 billion won).

For consumers, the fuel cost shock was the greatest.

According to data tracking the energy costs of the Iran war from Brown University, the additional amount Americans have paid for gasoline and diesel due to price increases since the outbreak of the war reaches approximately $60 billion (92 trillion won).

This equates to an additional burden of about $460 (704,000 won) per household.

At the start of the war, the average U.S. gasoline price was $2.98 per gallon (4,562 won per 3.785 liters), but it has now jumped to around $4 per gallon (approximately 6,123 won per 3.785 liters).

The direct cause of the oil price hike is the blockade of the Strait of Hormuz.

As Iranian forces attacked commercial vessels attempting to pass through the strait, a key corridor connecting Middle Eastern oil-producing nations to the global market was blocked, disrupting the flow of international crude oil.

Although international benchmark oil prices have come down to $80 per barrel after the U.S. and Iran recently agreed on peace negotiations, they soared to as high as $120 per barrel at one point in March.

Airfares, logistics costs, and transportation fees have also risen in a chain reaction, and food prices remain unstable.

The blockade of the Strait of Hormuz has driven up the prices of raw materials such as sulfur, a key ingredient in some fertilizers, and impacts such as rising food prices, slowing economic growth in various countries around the world, and increased hunger are expected.

Human casualties are also immense.

According to announcements by the Iranian and Israeli governments, the number of Iranian deaths is 3,500, and Israeli deaths stand at 26.

The number of U.S. military deaths was announced as 13.

In Lebanon, where the war spread, 3,700 people were also killed.

Casualties were also reported in other Middle Eastern countries.

In countries around the Persian Gulf, civilians, including workers from South Asia, were killed, mostly due to Iranian attacks.

Near Oman, the U.S. military attacked a commercial vessel, killing three civilian Indian sailors, an incident that heightened tensions between the United States and India.

The incident known to have caused the greatest civilian casualties occurred on February 28, the first day of the war.

A U.S. missile strike collapsed a school in Iran, killing at least 175 people, including elementary school children.
※ Please note: This article was translated by AI and may contain errors.