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The cost of Israel's war with Iran

The cost of Israel's war with Iran

CNBC01-07-2025
Zvi Eckstein, head of the Aaron Economic Policy Institute at Reichman University and former deputy governor of the Bank of Israel, speaks to CNBC about the cost of the Israel-Iran war.
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Lammy and counterparts accuse Israel of depriving Gazans of ‘human dignity'
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David Lammy has joined other foreign ministers in condemning the Israeli government for depriving Gazans 'of human dignity' as they called on the war to 'end now'. The Foreign Secretary and counterparts from 24 other nations including Australia, Canada and France, plus the EU commissioner for equality, urged the Israeli government to 'immediately lift restrictions on the flow of aid'. They also described proposals to move 600,000 Palestinians to a so-called 'humanitarian city' in Rafah as 'completely unacceptable'. In a statement shared on Monday afternoon, the politicians said: 'The suffering of civilians in Gaza has reached new depths. 'The Israeli government's aid delivery model is dangerous, fuels instability and deprives Gazans of human dignity. We condemn the drip feeding of aid and the inhumane killing of civilians, including children, seeking to meet their most basic needs of water and food.' The suffering of civilians in Gaza has reached new depths. Alongside 25 other partners, the UK message is clear: the war in Gaza must end now. We need an immediate ceasefire, release of all hostages and a full resumption of — David Lammy (@DavidLammy) July 21, 2025 They said it is 'horrifying' that hundreds of Palestinians 'have been killed while seeking aid' and that the 'Israeli government's denial of essential humanitarian assistance to the civilian population is unacceptable'. The foreign ministers reiterated calls for the remaining people being held hostage by Hamas to be released and asked for 'all parties to protect civilians and uphold the obligations of international humanitarian law'. Earlier this month Israeli defence minister Israel Katz laid out plans for the 'humanitarian city' in Rafah, Gaza's most southern city which has been heavily damaged through the war. He reportedly said that the military would initially move 600,000 Palestinians there, with the aim of eventually transferring the whole population to Rafah. 'Proposals to remove the Palestinian population into a 'humanitarian city' are completely unacceptable,' the foreign ministers said on Monday. 'Permanent forced displacement is a violation of international humanitarian law.' The signatories also pledged that they would be 'prepared to take further action to support an immediate ceasefire'. Gaza's Hamas-run health ministry have said dozens of people were killed trying to access food aid over the weekend.

Toppling Tehran Isn't Like Sacking Saddam
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In his letter, 'Regime Change in Tehran Isn't Worth the Risk' (July 16), Dan DePetris uses the examples of Afghanistan, Iraq and Libya to caution unseating Ayatollah Ali Khamenei. But there are more differences than similarities between those cases and Tehran's. Iraq and Libya are states that European empires manufactured in the 20th century. Afghanistan has had brief periods of independence, but throughout history it has largely been a territory, mired in war, over which other empires (including Iran) have contested.

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