Israel has an opportunity to form a strategic alliance against Iran after its mass drone and missile attack was jointly repelled, Israeli Defense Minister Yoav Gallant said on Sunday.
The attack was repelled together with the United States and other countries, Gallant said in a statement.
"We have an opportunity to establish a strategic alliance against this grave threat by Iran which is threatening to mount nuclear explosives on these missiles, which could be an extremely grave threat."
President Joe Biden has told Israeli Prime Minister Benjamin Netanyahu that the United States would not participate in any Israeli counter-offensive against Iran, a White House official said on Sunday.
In a statement issued late on Saturday following the attacks, Biden said he told Netanyahu that Israel had "demonstrated a remarkable capacity to defend against and defeat even unprecedented attacks."
Iranian Parliament Speaker Mohammad Bagher Ghalibaf has warned Israel of “harsher responses” if there is counteraction to Sunday's aerial bombardment.
During his Sunday speech Ghalibaf claimed Iran's military aerial bombardment launched Saturday night was a “legitimate response to aggressions against its diplomatic facilities, aligning with United Nations guidelines," referring to the alleged Israeli airstrike on the Iranian consulate in Damascus earlier this month which killed two senior Quds Force commanders and other IRGC personnel.
His statement was followed by the parliament members' reactions, who chanted "Death to Israel!" following the attack on Israeli soil.
Meanwhile Supreme Leader Ali Khamenei’s account on X published a post claiming that Israel had been punished, failing to acknowledge the fact that of the roughly 350 projectiles sent to Israel from Iran, the first such attack of its kind, 99 percent were intercepted by Israel, the US, UK, Jordan and France.
Iran's Army Commander-in-Chief Abdolrahim Mousavi also threatened that “if Israel persists in its actions, this time it will face a harsher and heavier punishment." He threatened the United States that if its bases are used to respond to an attack, "they will be considered operational targets and will be targeted."
Iran's mission to the UN shared a message claiming that it considered the operation "deemed concluded". "However, should the Israeli regime make another mistake, Iran’s response will be considerably more severe," it warned. "It is a conflict between Iran and the rogue Israeli regime, from which the US MUST STAY AWAY!"
Praising the Israeli defensive operation, Israel's defense minister, Yoav Gallant, said, "The IDF operated in an extraordinary manner overnight, and will continue to be prepared for every scenario. The campaign is not over yet and we are alert and strong."
White House National Security spokesman John Kirby tells NBC’s “Meet the Press” that the US isn’t seeking “a wider war in the region” after it assisted Israel to defend itself against Iran’s attack yesterday evening.
“We don’t seek an escalation,” Kirby says, but adds that US President Joe Biden told Prime Minister Benjamin Netanyahu during their call last night that the US will continue to support Israel’s right to self-defense.
The attack exposed Iran's true colors, he said in an exclusive interview, underlining that when Tehran’s proxies failed to achieve their objectives, the Iranian regime resorted to a direct assault.
Hagari highlighted that 99 percent of Iran’s projectiles were intercepted, debunking the Islamic Republic’s claims about hitting targets in Israel. Hagari also pointed out that the only place Iran’s ballistic missiles reached was Nevatim Airbase, where “a small number” of missiles caused “a minor damage” and did not even halt the operation of the base. “We can show it live” that Israeli planes are departing from the base patrolling Israel’s airspace.
“Zero UAVs and cruise missiles entered Israel,” he said, confirming earlier reports that most of the projectiles had been intercepted before entering the Israeli airspace. “Only a handful of ballistic missiles” hit the Nevatim airbase and its surrounding areas. “This is all their capability.”
Differentiating between “the regime in Iran” and “the people of Iran,” Hagari said that the IRGC and its extraterritorial Quds force wasted a significant amount of Iranians' money on the attack. He further criticized Iran's misuse of resources, stating that the attack again highlighted how Iranian public funds are squandered on terrorism, rather than being invested in the nation's development and its citizens' well-being.
He also addressed the propaganda campaign by the regime about the attack, calling on the Islamic Republic not to "sell lies and fake videos to the people of Iran.” “You are wasting their money and their resources.”
The Iranian people know that the regime is lying, he pointed that, adding that the building targeted in Iran's embassy compound in Damascus was a base for the IRGC-Quds Force and not a diplomatic building. How come no diplomat was killed in the attack on the so-called consulate building, he asked.
Israel and all its partners are ready to defend Israel against Iran and its proxy forces, he said. “The strategic partnership between Israel and the US is ironclad,” he highlighted, referring to US President Joe Biden’s remarks.
Israel’s response will be demonstrably forceful, Hagari asserted, emphasizing action over rhetoric. "We will take all necessary measures to safeguard our national interests and the security of the Israeli people."
The Tehran bourse has taken emergency measures to limit transactions after market turmoil followed an overnight aerial bombardment by Iran on Israel.
Stock exchange officials decided in an emergency meeting to lower the daily price fluctuation range to one percent for the next three consecutive days in a bid to cool off the market that was witnessing queues of investors trying to sell off their holdings.
The decision came after a sharp fall on the stock exchange which saw the overall index lose more than 11,000 points at the closing of Sunday's trading. The steep decline marked one of the biggest recent history drops, reflecting anxieties over escalating regional tensions fueled by Tehran.
The economic repercussions of the conflict are profound, as Iran's national currency also hit a record low. In the early hours after the attack on Sunday morning, the US dollar rose to pass 710,000 rials but later decreased slightly to reach 674,000 rials, an almost 30 percent depreciation since early January. Other major currencies have also seen historic increases, with the Euro exchanged at 719,200 rials and the British pound trading at 839,600 rials.
A declining currency value could bring more economic hardships for Iranians in the midst of an economic crisis. Now, with the annual inflation rate near 50 percent, savers are converting their money into hard currencies or gold to gain stability at a time when the economic landscape is changing rapidly.
