Addressing the Arab foreign ministers' meeting, Foreign Minister Adel Al-Jubeir said: "Showing leniency toward Iran will not leave any Arab capital safe from those ballistic missiles".
Saudi Arabia has ratcheted up pressure on Iran, accusing Tehran of trying to expand its influence in Arab countries, often through proxies including the Lebanese Shia Hezbollah group.
In his speech at the opening session of the Extraordinary Session of the Arab League at the level of Foreign Ministers, which opened here this evening, he said: "This response reflects the consideration of our countries of the grave dangers to the security and stability of our region as an inevitable result of the blatant violations of the Iranian regime in the internal affairs of the Arab countries in an attempt to destabilize their security and stability and stir up sectarian strife to create a division between our peoples and our countries".
Arab diplomats said the resolution seeks a declaration of solidarity with the premier Arab state, and support for actions it might take in the name of national security amid alleged meddling by Iran.
"The Lebanese Republic, in spite of our relations with it as a brotherly Arab nation.is under the total control of this terrorist party", Sheikh Khalid said.
Israel is ready to share "intelligence information" on Iran with Saudi Arabia, the Israel army chief, Lieutenant General Gadi Eizenkot, said in an interview with the privately owned online Saudi newspaper Elaph. The Saudis said the missile was Iranian-made and declared the attack an act of war by the Iranians.
Top US officials, including US President Donald Trump, have also blamed Iran for the Houthis' attack, with Envoy to the UN Nikky Haley calling for Tehran to be held accountable for a ballistic missile launched by Yemeni rebels targeting Saudi Arabia in July 2017, as it was allegedly an Iranian Qiam.
But he said Israeli officials have tended to exaggerate such interactions in a bid to "drive down the price they may have to pay, especially on Palestinian issues, to expand strategic relations and ties with Arab countries". Iran, he added, has destroyed any chance of building trust with the Arabs.
The Saudi draft cited the bombing of an oil pipeline in Bahrain this month as an example of Iran's threat to regional security.
In an interview with the Saudi electronic newspaper Elaph (considered the first independent publication of the Kingdom) published on Thursday, November 16, the Israeli commander pointed to the joint threat to Israel and Saudi Arabia in the face of Iran.
Saudi Arabia's powerful Crown Prince Mohammed bin Salman has accused Tehran of "direct military aggression" against the kingdom by supplying the Yemen rebels with ballistic missiles.
For more than a decade, Lebanon's political class has been largely split between the Iran-backed Hezbollah and its allies, and a Saudi-supported coalition led by Hariri.