DUBAI, Nov 11 — The US-Iran war will cost Gulf countries more than US$200 billion (RM814.7 billion) in damage and economic losses could reach nearly four times that amount by 2030, insurer Allianz Trade said on Wednesday.
Gulf countries bore the brunt of Tehran’s wrath after the United States and Israel launched attacks on Iran on February 28, triggering the war.
In retaliation, Iran restricted shipping in the key strait of Hormuz and struck civilian infrastructure including airports, seaports, energy facilities, landmarks and American assets in the US-allied countries.
“Physical damage across the region is assessed just above US$200 billion, mostly concentrated in Hormuz-locked economies, especially in energy infrastructure,” the insurer said in a report.
