Iran’s latest military escalation is backfiring on the global stage as new strikes and widening regional fallout expose what a former Israeli consul general in New York called a critical miscalculation by Tehran.

Ambassador Ido Aharoni, who served as consul general of Israel in New York, joined FOX Business’ “Mornings With Maria” on Wednesday to discuss the broader implications of Iran’s recent actions and the shifting dynamics across the Middle East.

An Iranian flag lies amid rubble and debris in Tehran. (Atta Kenare/AFP via Getty Images)

“Iran made a terrible mistake attacking Cyprus, thus bringing in the European Union,” Aharoni told host Maria Bartiromo.

He said Iran’s decision to expand its targets is drawing in new international pressure and raising concerns far beyond the region.

IRAN WAR UNLIKELY TO TRIGGER GLOBAL SUPPLY CHAIN CRISIS, GOLDMAN SACHS SAYS

“Iran is presenting a threat to the entire world,” Aharoni said.

The former consul general argued the U.S. and Israel’s ongoing military campaign is reshaping deterrence and exposing the regime’s vulnerabilities.

“For the first time since 1979, Iran is being punished for its motivation, for its ideology, not just for their actions… This sends a very powerful message throughout the region,” Aharoni said.

“This is how you restore deterrence… This is exactly what is being done.”

PRINCE REZA PAHLAVI HAS ‘MAJORITY SUPPORT’ AMONG IRANIANS AS PRESSURE BUILDS ON REGIME, CHIEF OF STAFF SAYS

He said Iran’s long-term position is weakening as a result of Operation Epic Fury. 

“They’re not going to be the same regional power that they were before or after this. It will take them decades to rebuild the infrastructure that was destroyed,” Aharoni explained.

Aharoni underscored that Iran’s actions are impacting its own population as instability grows.

“The Iranians are the number one victims of their own regime,” Aharoni said.

CLICK HERE TO GET FOX BUSINESS ON THE GO

The Trump administration is working to lower gas prices as motorists continue to pay more at the pump since the outbreak of the Iran war, Vice President JD Vance said Wednesday, noting that the increase is temporary. 

Vance was at the Engineering Design Services, Inc. manufacturing plant in Auburn Hills, Michigan, where he was asked about rising gas prices.

“Gas prices are up, and we know they’re up,” Vance said. “We know that people are hurting because of it, and we’re doing everything that we can to ensure that they stay lower.”

Vance said prices will eventually start to decline. 

AMERICANS HIT WITH SOARING ELECTRICITY BILLS AS PRICE HIKES OUTPACE INFLATION NATIONWIDE

 Vice President JD Vance speaks onstage at Engineering Design Services, Inc. on Wednesday in Auburn Hills, Michigan.  (Bill Pugliano/Getty Images / Getty Images)

“The president said this, and I certainly agree with it. This is a temporary blow,” he said. “What happened under the Biden administration is that gas prices were high for four years. Gas prices are higher right now, and frankly, they’re not even as high as they were during certain parts of the Biden administration.”

Prices have steadily risen following U.S. and Israeli attacks against Iran in recent weeks. 

As of Wednesday, the average price for a regular gallon of gas was $3.84, up from $2.92 a month ago, according to AAA.

GAS PRICES SURGE, PINCHING AMERICANS AND HANDING THE GOP A NEW MIDTERM HEADACHE

A diesel fuel pump at a Chevron gas station in Seattle, Washington, US, on Monday, March 9, 2026. (M. Scott Brauer/Bloomberg via Getty Images / Getty Images)

In recent weeks, the administration has worked with its allies to release hundreds of millions of barrels of oil from petroleum reserves in an effort to put downward pressure on prices, Vance said. 

Many U.S. allies are “suffering” much more than many Americans, Vance said. 

“So as much as we’ve got to focus on getting these gas prices down, the reality is, overseas they’re feeling it far worse than we did because we’ve taken the steps to protect our energy economy.”

Once military operations against Iran conclude, prices should decrease to previous levels, said Vance. 

CLICK HERE TO GET FOX BUSINESS ON THE GO

“We promise that when this conflict draws to a close, when this operation draws to close, we’re going to see those energy prices come back down to reality, because that’s what the president promised to do,” he said. “He delivered an energy-dominant agenda. It’s made us much more secure in the face of these things. But yeah, we’ve got a rough road ahead of us for the next few weeks, but it’s temporary.”

The U.S. produces more oil than any other country, according to the Energy Information Administration (EIA). As of 2023, the latest data available, the U.S. produces 1roughly3 millions barrels per day, followed by Russia and Saudi Arabia.

BARCELONA, Spain — FC Barcelona hosts Newcastle United on Wednesday in the decisive second leg of their UEFA Champions League Round of 16 tie at Spotify Camp Nou, with the aggregate score level at 1-1 after a tense 1-1 draw at St James’ Park last week.

Kickoff is set for 6:45 p.m. CET (5:45 p.m. GMT, 1:45 p.m. ET, 10:45 a.m. PT), an earlier-than-usual slot for European midweek action. The match promises high stakes as Hansi Flick’s Barcelona seeks to leverage home advantage against Eddie Howe’s resilient Newcastle side, which punched above expectations in the first leg.

The first encounter on March 10 saw Newcastle take a late lead through Harvey Barnes in the 86th minute, only for Lamine Yamal to equalize from the penalty spot in stoppage time (90+6′). That dramatic finish kept the tie alive, with Barcelona’s young star rescuing a point in a match where the hosts dominated possession but struggled to break down Newcastle’s organized defense.

Barcelona enters as clear favorites. The Catalans boast one of Europe’s most potent attacks, led by Robert Lewandowski, Raphinha and the explosive Yamal. Flick’s side has shown attacking flair in the Champions League this season, scoring in every group-stage and knockout match while maintaining high pressing intensity. At home, Barcelona’s record remains formidable, with the Camp Nou crowd expected to create a cauldron atmosphere.

Newcastle, meanwhile, has impressed with defensive solidity and counter-attacking threat. Eddie Howe made five changes for the second leg, including Sandro Tonali’s return to midfield, signaling intent to disrupt Barcelona’s rhythm. Anthony Gordon, back from injury, leads the line alongside Harvey Barnes and Anthony Elanga, aiming to exploit any gaps in Barcelona’s high defensive line.

Predicted lineups reflect tactical battles:

**Barcelona (4-2-3-1):** Joan García (GK); Joao Cancelo, Pau Cubarsí, Eric García, Gerard Martin; Pedri, Marc Bernal; Fermín López, Raphinha, Lamine Yamal; Robert Lewandowski.

**Newcastle United (4-3-3):** Aaron Ramsdale (GK); Kieran Trippier, Malick Thiaw, Dan Burn, Lewis Hall; Jacob Ramsey, Sandro Tonali, Joelinton; Anthony Elanga, Anthony Gordon, Harvey Barnes.

Injuries and suspensions remain minimal, though Newcastle monitors fitness for key players like Tonali after a recent concern.

Predictions favor Barcelona progression. Analysts at Sports Mole, SportsGambler and others project a narrow home win, with common scorelines including 2-1 or 3-1 to Barcelona (aggregate 3-2 or 4-2). Betting markets list Barcelona at around -172 to win, reflecting a 63% implied probability. Many foresee both teams scoring and over 2.5 goals, given Barcelona’s attacking output and Newcastle’s direct style — the sides have combined for high-scoring games in recent European outings.

Key battles include Yamal vs. Newcastle’s full-backs, where the teenager’s pace and dribbling could prove decisive. Lewandowski’s movement against Newcastle’s center-backs, and midfield duels involving Pedri and Tonali, will shape possession and transitions.

Barcelona’s edge stems from home form and depth, with Flick emphasizing control and clinical finishing. Newcastle’s “superpower” atmosphere at St James’ Park helped them last week, but Camp Nou’s intensity and Barcelona’s quality should tilt the balance.

The winner advances to the quarterfinals, a massive boost for either club’s season. For Barcelona, progression would validate Flick’s project amid La Liga title challenges. For Newcastle, an upset would mark historic European progress.

Where to watch live stream and TV coverage:

– **United States:** Paramount+ (exclusive English-language streaming), with options on CBS channels in select markets.

– **United Kingdom:** TNT Sports 2 (TV), with streaming on discovery+.

– **Spain:** Movistar+ and other pay-TV platforms.

– **Canada:** DAZN.

– **Other regions:** Check UEFA.com or local broadcasters; international streams available via Paramount+ in many territories.

Fans without cable can access Paramount+ (U.S.) or equivalent services, often with free trials. Live updates and highlights will stream on UEFA’s official platforms post-match.

As kickoff nears, anticipation builds for a potential classic. Barcelona’s firepower at home makes them the side to beat, but Newcastle’s grit could force extra time or penalties if they frustrate the hosts early.

SYDNEY — The Australian dollar held firm around 0.7110 against the U.S. dollar in early Asian trading on March 19, 2026, consolidating gains following the Reserve Bank of Australia’s (RBA) second consecutive interest rate increase to 4.10% on March 17.

The AUD/USD pair traded at approximately 0.7110-0.7115 in the hours after Sydney’s open, up modestly from Tuesday’s close of 0.7105 but below the recent peak near 0.7150 earlier in the month. The currency has shown resilience since the RBA’s decision, buoyed by the hawkish stance that signals potential further tightening to combat persistent inflation.

The RBA lifted the cash rate target by 25 basis points to 4.10%, marking back-to-back hikes for the first time since mid-2023. The move came in a split vote, with five board members favoring the increase and four preferring to hold steady at 3.85%. Governor Michele Bullock cited renewed inflationary pressures, including a material pickup in core inflation and elevated wages growth, as justification for the tightening.

In its statement, the RBA noted that while inflation has fallen substantially from its 2022 peak, recent data showed it rising materially. The bank emphasized the need to keep policy restrictive to return inflation to the 2-3% target band sustainably. Markets now price in a median cash rate of around 4.35% by year-end, with some economists forecasting hikes as early as May.

The decision provided immediate support to the Australian dollar, which rallied modestly in the aftermath. The currency’s strength reflects Australia’s commodity-heavy economy benefiting from elevated oil and gas prices amid global tensions, alongside higher yield appeal compared to peers. The Aussie has emerged as a relative haven in recent weeks, outperforming many majors despite broader risk-off sentiment tied to geopolitical developments.

Technical analysts note the pair remains in a consolidation range after testing resistance near 0.7150. Some forecasts suggest potential upside to 0.7140-0.7230 in the short term if momentum builds, though bearish scenarios target a pullback toward 0.7000 or lower if U.S. dollar strength resumes.

Broader forecasts for 2026 vary. Aggregated bank projections point to gradual appreciation, with quarterly targets clustering around 0.6946 by March (already surpassed), 0.6932 by June, 0.7030 by September, and 0.7140 by December. Longer-term outlooks see the AUD/USD reaching 0.8233 by end-2026 in optimistic scenarios, implying over 15% upside from current levels, though more conservative views cluster near 0.68-0.70.

Key drivers include commodity prices, with Australia’s exposure to iron ore, coal and LNG providing tailwinds if global demand holds. The RBA’s hawkish pivot contrasts with expectations of U.S. Federal Reserve easing later in 2026, widening interest rate differentials in Australia’s favor.

However, risks loom. A stronger U.S. dollar from persistent inflation or geopolitical escalation could cap gains. Domestic factors, including household debt sensitivity to higher rates and potential slowdown from tighter policy, may temper enthusiasm.

Traders monitor upcoming data, including Australian employment figures and U.S. inflation prints, for directional cues. The AUD has gained over 6% year-to-date in 2026, reflecting improved sentiment post-2025 volatility.

As the RBA signals vigilance on inflation, the Australian dollar’s outlook remains cautiously optimistic in the near term, with the currency trading in a supportive environment of higher yields and commodity resilience.

TEHRAN, Iran — Iran’s Intelligence Minister Esmail Khatib was killed in an overnight Israeli airstrike in Tehran, Iranian President Masoud Pezeshkian confirmed Wednesday, marking the third high-profile assassination of a senior regime official in as many days amid the ongoing U.S.-Israeli military campaign against Iran.

The strike, claimed by Israel’s Defense Minister Israel Katz as the “elimination” of Khatib — whom he described as overseeing “the regime’s internal murder and repression system” and external threats — came hours after U.S. forces conducted precision strikes on hardened Iranian missile sites along the coastline near the Strait of Hormuz. U.S. Central Command announced the operation used multiple 5,000-pound deep-penetrator munitions to target facilities housing anti-ship cruise missiles that posed risks to international shipping in the strategic waterway.

Khatib’s death follows the killings Tuesday of top national security official Ali Larijani and former Basij paramilitary chief Gen. Gholamreza Soleimani in separate Israeli airstrikes. Pezeshkian, in a post on X, condemned the killings as “cowardly assassinations” and vowed resilience, while Iranian state television confirmed Khatib’s death and labeled it part of Israel’s campaign to destabilize Iran’s leadership.

The assassinations represent a sharp escalation in Israel’s targeting of Iran’s political and security elite since the conflict began Feb. 28, 2026, with joint U.S.-Israeli airstrikes aimed at degrading Iran’s nuclear program, ballistic missile capabilities and regime stability. Israeli officials have stated the military now has permission to strike Iranian leaders “at will,” signaling an intensified effort to dismantle command structures.

In response to the latest killings, Iran launched a missile barrage overnight that struck areas near Tel Aviv, killing two civilians in Ramat Gan and injuring others, according to Israeli emergency services. Air raid sirens sounded across central Israel as debris fell from intercepted projectiles. The Islamic Revolutionary Guard Corps claimed the attack as retaliation for the assassinations, vowing further operations.

The U.S. strikes near the Strait of Hormuz focused on neutralizing threats to maritime traffic without directly hitting oil infrastructure on Kharg Island or elsewhere, though President Donald Trump warned Wednesday that energy facilities could become targets if Iran continues interfering with shipping. CENTCOM described the operation as successful in degrading Iran’s anti-ship missile posture, part of broader efforts to reopen the strait amid disrupted global oil flows.

Oil prices remained elevated near $112 per barrel on Brent crude futures Wednesday, reflecting ongoing market anxiety over potential closure of the chokepoint through which about 20% of global oil passes. Trump has criticized NATO allies for failing to contribute naval assets, including minesweepers, to secure the strait, calling their response “mixed” and insufficient.

The conflict, now in its third week and dubbed Operation Epic Fury by U.S. officials, has seen extensive strikes across Iran. U.S. and Israeli forces have targeted ballistic missile launchers, production sites, air defenses, nuclear-related facilities at Natanz and command centers, with CENTCOM reporting significant degradation — missile attacks from Iran down roughly 90% since operations intensified.

Iranian casualties remain high, with the regime reporting over 1,400 deaths and thousands wounded, though independent estimates suggest higher figures among military personnel. Civilian impacts include strikes on residential areas in Tehran, with rescuers searching rubble in the Resalat district after a building collapse attributed to the campaign.

Iran’s new Supreme Leader Ayatollah Mojtaba Khamenei issued a rare statement offering condolences for Larijani’s death and warning of retaliation, while the regime’s foreign ministry condemned the strikes as violations of sovereignty during ongoing nuclear talks. Tehran has widened attacks to include U.S. bases in Iraq and allied interests in the Gulf, with recent incidents in Dubai, Doha and other states from missile and drone activity.

The White House described Khatib’s killing as “a good thing” for U.S. interests, citing his role in alleged cyber operations and repression. Trump reiterated no immediate deal is possible without Iran halting aggression, dismissing diplomacy amid the violence.

International reactions include U.N. calls for ceasefire and an emergency Security Council session, with China and Russia condemning the strikes as “imperialist.” European allies express support for Israel’s self-defense but urge de-escalation to avoid wider war.

As strikes continue, the assassinations of Khatib, Larijani and Soleimani underscore efforts to fracture Iran’s leadership. With missile capabilities diminished but proxy forces like Hezbollah active, the conflict risks further regional spillover.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8