March 19, 2026
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10:32Now PlayingFormer US ambassador to NATO Kurt Volker said that despite President Trump's disparaging comments about NATO allies, he doubts that the US will walk away from the alliance entirely because NATO is 'fundamentally in the US interest.' Volker also weighed in on the White House's supplemental war funding request, saying that a massive $200 billion ask is a 'psychological' figure to signal to Iran the US has deep pockets to continue the war.
Iran stepped up attacks on energy assets around the Middle East after US President Donald Trump called for restraint, with strikes on key oil and gas infrastructure triggering a fresh surge in prices.
The Islamic Republic targeted sites in countries including Saudi Arabia, Qatar and the United Arab Emirates during a wave of drone and missile fire on Thursday, a retaliation for Israel’s assault on the giant South Pars gas field the previous day.
“Our response to Israel’s attack on our infrastructure employed FRACTION of our power,” Iranian Foreign Minister Abbas Araghchi said in a post on X. “The ONLY reason for restraint was respect for requested de-escalation.”
The strikes on energy facilities from both sides escalated the conflict as it nears the end of its third week, with no sign of any imminent ceasefire. Oil and gas prices soared once again, while global equities extended losses and bonds tumbled amid widening fears the war will stoke inflation and hurt economic growth.
Saudi Arabia said a drone hit its Samref refinery on the Red Sea, a vital exit route for the world’s biggest oil exporter with the Strait of Hormuz still effectively shut.
Qatar’s Ras Laffan Industrial City — home to the world’s largest export plant for liquefied natural gas — suffered “extensive damage” after an Iranian missile strike sparked a fire. The UAE shut a major gas facility due to falling debris from missiles.
Iran’s strikes on Qatar have damaged facilities that produce 17% of the company’s LNG export capacity and it will take as long as five years to repair them, Reuters reported, citing QatarEnergy CEO Saad al-Kaabi.
The latest attacks increased the potential for other countries to join the US and Israel in the conflict.
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