IRANIAN Foreign Ministry on Monday warned against any “adverse consequences” of ending the U.S. sanctions waivers on oil imports from Iran.

“Given the illegal nature of the U.S. sanctions, Iran has not and will not consider any value for the waivers granted” by the United States to some customers of the Iranian oil, Iran’s Foreign Ministry Spokesman Abbas Mousavi said in a statement.

“However, in view of the negative effects in politics of these sanctions ... Iranian Foreign Ministry has been continuously in touch with relevant domestic institutions while holding comprehensive consultations with many foreign partners, including Europeans,” Mousavi added.

On Monday, the White House announced that U.S. President Donald Trump has decided not to re-issue the sanctions waivers allowing major importers to continue buying Iran’s oil when they expire May 2.

Iran will make an appropriate decision over the U.S. new move and will make it public, Mousavi said.

Turkish Foreign Minister Mevlut Cavusoglu on Monday criticized the U.S. decision.

“The U.S. decision will not serve regional peace and stability, but will harm Iranian people,” Cavusoglu warned on his Twitter account.

Oil prices hit their highest since November yesterday after Washington announced the move. Brent crude futures were at US$74.25 per barrel at 1055 GMT, up 21 cents or 0.28 percent from their last close. (SD-Xinhua)