In a statement on Saturday, Abbas Mousavi strongly condemned the new sanctions the US Treasury Department has imposed on Iranian petrochemical businesses as an example of economic terrorism in a series of the White House's acts of hostility towards the Iranian nation.
In a statement on Friday, the department said it authorised sanctions against Persian Gulf Petrochemical Industries Company, "Iran's largest and most profitable petrochemical holding group".
PGPIC and its group of subsidiary petrochemical companies hold 40 per cent of Iran's total petrochemical production capacity and are responsible for 50 per cent of Iran's total petrochemical exports.
"This action is a warning that we will continue to target holding groups and companies in the petrochemical sector and elsewhere that provide financial lifelines to the IRGC", US Treasury Secretary Steven Mnuchin said on Friday.
However, several analysts said the sanctions' effect will be moderated somewhat because non-U.S. companies already have begun to avoid doing business with Iran's petrochemicals sector because of existing sanctions. But Iran's foreign ministry said it would not hold any discussions beyond the 2015 pact that Trump abandoned past year as he pressed for tougher restrictions.
Friday's sanctions are section of the administration's "maximum stress" marketing campaign in opposition to Iran and freeze any assets the targeted companies would perchance perchance additionally enjoy in USA jurisdictions and bar Americans from doing trade with them.
TEHRAN, Iran-Iran has condemned new U.S. sanctions targeting its petrochemical industry, saying they prove President Donald J. Trump is not serious about pursuing negotiations.
Mousavi called the new sanctions another instance of "economic terrorism" and a continuation of USA "enmity" against Iran.
The new sanctions come as the Trump administration seeks to increase economic and military pressure against Iran both because of its nuclear and missile programs as well as its support for proxy groups in Syria, Iraq, Lebanon and Yemen.
That effort has picked up steam in fresh weeks with the re-imposition of penalties aimed at bringing Iran's lucrative oil export earnings to zero following President Donald Trump's formula to withdraw the US from the landmark 2015 nuclear tackle Iran.
In April, the USA also designated the IRGC a terror group, marking the first time a government agency has been blacklisted as a terrorist body.
"All countries have a responsibility to react against the flagrant violations of the fundamental principles of worldwide law and not to allow the global community's achievements in multilateralism to be further ruined by the bullying and unilateral actions of the American governing body", Mousavi concluded.