The new embargo on Iran's missile industry "lacks any credit and importance," Najjar was quoted as telling senior officials of the country's defense industries.

He added that the country's defense industries, especially the missile industry, have reached the stage of self-sufficiency thanks to the ingenuity and efforts of Iranian experts.

The sanctions will have no impact on Iran, but will encourage and bring about "another wave of self-sufficiency" in the country, the Iranian defense minister said.

The UN Security Council Resolution 1737, adopted unanimously on Saturday, demanded that Iran "suspend all enrichment-related and reprocessing activities, including research and development, and work on all heavy water-related projects."

The resolution also called on all states to impose a ban on trade with Iran in goods related to its nuclear programs and ballistic missile delivery systems.

It demanded that "all states shall freeze the funds, other financial assets and economic resources" owned or controlled by officials and companies in the country's nuclear and missile programs.

Shortly after the UN Security Council voted unanimously for the resolution, the Iranian Foreign Ministry issued a statement lashing out at the resolution as an "illegal measure."