International Court of Justice President Abdulqawi Ahmed Yusuf said the tribunal "finds consequently that it has jurisdiction ... to entertain the application filed by the Islamic Republic of Iran."
The warning comes as Iran’s clerical and military rulers blame Israel for the killing of its foremost nuclear scientist Mohsen Fakhrizadeh.
The sanctions, which forbid Americans and US entities from doing business with five Iranian entities, will likely have little impact, as some of the groups are already subject to other sanctions.
A senior advisor to Iran's supreme leader says Tehran could boost its uranium enrichment to "five percent" even as a top Iranian cleric warns Britain should be "scared' of Tehran's response over oil tanker capture in Gibraltar.
Baghdad has become the centre of a tug of war between Washington and Tehran, but it's trying its best to maintain a balance between the two rivals while pursuing its own interests.
Following US-imposed sanctions, Tehran signals it will use other routes to sell its oil to private sellers, who will sell it on to other states.
Tehran has "mobilised" all its resources to sell oil in a "grey market" bypassing US sanctions, state media quotes Deputy Oil Minister Amir Hossein Zamaninia as saying.
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