Senate Minority Leader Mitch McConnell has branded China, Russia, and Iran as the new "axis of evil" and Iran the "principal sponsor of terrorism".

The designation comes in the midst of ongoing conflicts in Ukraine and Israel and discussions surrounding US funding for allies involved in the two wars.

In a recent interview with Fox News, McConnell, A Republican from Kentucky, described the "axis of evil" consisting of China, Russia, and Iran as an immediate threat.

"You have to respond to conditions that actually exist that are a threat to the United States. The Iranians are a threat to us as well. And so, this is an emergency. It’s an emergency that we step up and deal with this axis of evil – China, Russia, Iran – because it’s an immediate threat to the United States," McConnell said.

"In many ways the world is more endangered today than it has been in my lifetime," McConnell said, recalling that unlike when the Berlin Wall fell, the world faces a "big power competition" coinciding with the terrorism threats in the Middle East and culminating in Israel's war against Iran-backed Hamas terrorists who on October 7 declared war on Israel.

He said that the "disastrous" withdrawal from Afghanistan gave a "green light of " to Putin's invasion of Ukraine and now, as the Middle East awaits the wrath of Iran's proxies, he asked "is America going to lead?".

Calling out Iran as "the principal sponsor of terrorism", supporting Russia's invasion of Ukraine and now, Hamas in Gaza and Hezbollah in Lebanon, whose attacks have stepped up massively in recent days into Israel's northern border, he said the threat is spreading globally.

US Senator Lindsey Graham during a visit to Israel on Sunday accused Iran of involvement in the October 7 Hamas attack and warned that any escalation could exact a cost from Tehran.

"We're here today to tell Iran: 'We're watching you. If this war grows, it's coming to your backyard,'" Graham starkly warned.