Iran’s president has threatened Israel with a “severe, extensive and devastating” response to further military actions after Israel’s army chief stated plans to retaliate to Saturday night’s bombardment.

The threat by Iran’s President Ebrahim Raisi follows the launch of over 300 missiles and drones by Iran towards Israeli territory, Iran’s first open assault against its main enemy state.

The bombardment was in retaliation for an Israeli air strike on the Iranian consulate building in Damascus on April 1, killing two senior Quds Force commanders and other IRGC personnel.

Raisi made the statement during a phone call with Qatar’s Emir, Sheikh Tamim bin Hamad Al Thani Monday night.

"We firmly declare that the slightest action against Iran's interests will definitely be met with a severe, extensive and painful response."

Adding to the tensions, Israeli Lieutenant General Herzi Halevi vowed retaliation during a statement to troops at the Nevatim air base, one of the sites hit in the Saturday attack.

Further complicating matters, Iranian Deputy Foreign Minister Ali Bagheri Kani warned that Iran would react instantly to any Israeli counterstrikes.

“The retaliation would come in a matter of seconds, as Iran will not wait for another 12 days to respond," he told state TV.

The situation has also aroused international concern. US Secretary of the Treasury Janet Yellen stated that Iran threatened stability in the Middle East and could cause economic spillovers.

She said the US would use sanctions and work with allies, to keep disrupting Iran’s "malign and destabilizing activity."