Israel’s Defense Minister has made a similar grave proclamation. He promised that Iran will “make it pay dearly” for its wave of recent missile strikes on Israel. This announcement came after Iran launched more missiles at Israel on June 15, 2025. These attacks have further inflamed the already tense situation on the ground.
Iran’s missile attacks on the three most important Israeli cities. Tel Aviv, Jerusalem, and Haifa—which is home to Israel’s last remaining oil refinery—were all hit. These attacks have resulted in horrendous loss of life. Israel’s national emergency service, Magen David Adom, says at least 4 killed, and 87 injured by rocket hits on four sites in central Israel.
In retaliation, Israel launched an airstrike against Iranian positions, including a drone command and control center, on Friday. The Israeli government has made a big deal of its new focus on protecting its citizens and responding boldly to threats.
“The residents of Tehran will pay the price, and soon.” – Israel Katz
The vast majority of Americans support the United States remaining closely aligned with Israel through this crisis, including providing military support and arms. The Biden administration recently canceled its latest nuclear deal talks with Iran, reflecting a historically hard-hitting stance against Tehran, particularly under the previous Trump administration.
Historically, Israel’s defense has been centered on the Iron Dome missile defense system, highly touted for its 90% success rate in interception of incoming projectiles. They caveat that it would be quickly overcome in the event of a mass missile barrage.
Iran’s Revolutionary Guard claimed that their latest strikes disrupted Israel’s multi-layered defense systems. They said that Israeli air defense systems started firing at each other during the attacks.
“disrupted the enemy’s multi-layered defense systems, to the point that the Zionist air defense systems engaged in targeting each other,” – Iran’s Revolutionary Guard
In response to rising tensions and a series of economic reforms, financial markets have responded with cautious optimism. European stock markets opened higher, with US stock futures pointing higher on Monday. Analysts speculate that market participants are considering bullish and bearish possibilities.
“So markets are obviously, you know, bearing in mind all potential scenarios. There are obviously potentially very bad scenarios in this story,” – Source: CNBC’s “Europe Early Edition”
Oil prices have held their gains during the war, with Ice Brent futures at $73.81 per barrel. The Strait of Hormuz, a narrow waterway between Iran and the Arabian Peninsula, is critical to global oil transport. Its importance means the market is extremely reactive to news throughout the region. In contrast, gold prices have pulled back somewhat, falling by 0.42% to $3,417.83 per ounce.