WAR

The US-Israel war against Iran, launched February 28, 2026 with massive opening airstrikes that killed Supreme Leader Ali Khamenei and crippled key military infrastructure, has entered its second week with no signs of de-escalation. Israel continues deep strikes into Tehran and western Iran while Iran and Hezbollah maintain intense missile and rocket barrages on northern Israel, causing civilian casualties and fires; the Strait of Hormuz remains largely closed due to Iranian naval threats and mining, driving oil prices above $100–114 per barrel and triggering global trade and aviation disruptions. US daily spending has stabilized around $800 million (after an initial $1–2 billion/day surge), with total munitions and operations costs already exceeding $11–15 billion in the first two weeks and projections reaching $50–65 billion if the air campaign drags on; Israel has added roughly $13 billion to its defense budget. Iran employs classic asymmetric warfare—cheap Shahed drones ($20k–$50k) and ballistic missiles ($200k–$2M) force defenders to expend far more expensive interceptors (Patriot $3–4M, THAAD $12–15M each), creating severe cost asymmetry, while proxies like Hezbollah tie down Israeli forces in the north. Casualties surpass 2,000–5,000 dead across multiple countries, hundreds of thousands are displaced, and the new Supreme Leader Mojtaba Khamenei vows continued attacks unless US forces fully withdraw from the region, with analysts warning of prolonged attrition, wider regional spillover, and massive long-term economic and geopolitical consequences.