Shafaq News/ Iranian Oil Minister ,Begin Zanganeh has acknowledged that sanctions against Tehran have made a severe blow to its oil sector and caused its global standing to decline.

"Sanctions have reduced Iran's oil sector, but Tehran will resist," Zanganeh was quoted by the semi-official Mehr news agency on Tuesday.

"Every few years, the oil industry in Iran is hit hard, and economic sanctions are among them," he said. "This has led to the retreat of Iran's oil industry from its global position but we will resist."

The administration of US President ,Donald Trump reimposed sanctions on Iranian oil exports, the main source of revenue for Tehran, and the financial sector after Trump announced on May 8 withdrawing from the nuclear agreement signed between Iran and world powers.