Iran's Ahmadinejad calls sanctions 'ridiculous'

Iran`s Ahmadinejad calls sanctions `ridiculous` Tehran: President Mahmoud Ahmadinejad says the West's sanctions on Iran's oil sector are "ridiculous."

Ahmadinejad told a group of oil officials that only "politically retarded" governments would use badly needed oil as a tool of "political warfare" in opposition to Iran's nuclear programme. His speech was broadcast on state TV on Tuesday.

Ahmadinejad's remarks came after Congress pressed ahead late yesterday with a new package of sanctions on Iran, expanding financial penalties and targeting Tehran's energy and shipping sectors in the hope that economic pressure will undercut the country's suspected nuclear weapons program.

Iran denies it seeks atomic weapons.

Iran relies on oil for some 80 per cent of its foreign revenue.