Iran Retaliates With Missile Strikes on Israel and UAE; Trump Assails NATO Over Gulf Security

Iran’s Revolutionary Guards launched a series of missile strikes on March 18 targeting central Israel and Dubai. The attacks, which killed at least two people near Tel Aviv, were described by Tehran as "revenge" for the recent killing of security chief Ali Larijani in an Israeli airstrike. While UAE authorities successfully intercepted a missile over Dubai, the escalation has prompted a sharp response from Washington. President Trump publicly criticized NATO allies for their refusal to assist in reopening the Strait of Hormuz, accusing the alliance of abandoning the U.S. and threatening to let allies handle the security of the region themselves. In the U.S., military officials are advancing plans for a maritime coalition to protect shipping, despite public hesitations from several European partners. Strategic assessments suggest that U.S. and Israeli operations aim to degrade Iran’s drone, missile, and nuclear programs within the next three weeks. Military analysts have characterized the recent Iranian strikes as "desperate flailing" from a regime whose industrial and military base is under sustained pressure. The conflict continues to disrupt global markets, with crude oil prices holding above $90 per barrel since late February. In addition to energy volatility, U.S. agricultural sectors are feeling the impact; soybean futures have dipped amid concerns over exports to China, while rising fertilizer costs—driven by high energy prices—are creating significant financial pressure for farmers ahead of the 2026 planting season.