Gulf War Damages Exceed $200B as Strait of Hormuz Closure Bites

A report estimates over $200 billion in material damages across Gulf countries following a US-Israel campaign against Iran and subsequent Iranian retaliation, including closure of the Strait of Hormuz and Houthi attacks. The figure underscores the economic toll of the conflict, with economies dependent on the strait hit hardest. The report's methodology and full scope remain unclear, but the scale indicates a major regional economic shock.

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