Tehran, November 23 (KCNA) -- Iran's Minister of Industry, Mine and Commerce Mehdi Ghazanfari in a press conference Monday condemned the U.S. sanctions against his country.

The U.S. chief executive recently threatened to apply new sanctions against the financial sector of Iran.

The minister said it is a lose-lose strategy where both sides will lose.

There are several ways for Iran to connect to the world, he said.

If they do not invest in Iran's energy sector, they will lose Iran's energy industry market for at least 20 years, said the Iranian minister, adding that in the face of sanctions from Western countries Iran will think of other substitutes.