Kazem Vaziri Hamane said Tehran would use all its possibilities, including in the oil sphere, as a retaliatory measure, if Iran's interests were infringed upon.
Hamane said oil prices would jump to $100 per barrel, if sanctions were imposed against Iran's oil sector.
The petroleum minister said oil sanctions against Iran were unrealizable because it was difficult to find an alternative to 2.5 million barrels of oil produced by Iran daily.
Hamane said Iran could use its oil weapon only if Tehran faced threats and its national interests were infringed upon.
Hamane also said the use of an oil weapon in a situation normal for the country would mean a challenge to the world. But if the country was in danger, the use of this weapon would be one of the instruments, which Iran would employ decisively, Hamane said.
