Iranian Oil Minister Bijan Zanganeh on Tuesday said that the U.S. made a "bad mistake" by ending waivers that allowed several foreign countries to buy oil from Iran without facing sanctions.

“America has made a bad mistake by politicizing oil and using it as a weapon in the fragile state of the market," Zanganeh said in a parliamentary session, according to Reuters, which cited the Islamic Republic News Agency.

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“With all our power, we will work toward breaking America’s sanctions,” Zanganeh reportedly added.

The White House announced Monday that President Trump Donald John TrumpBiden on Trump's refusal to commit to peaceful transfer of power: 'What country are we in?' Romney: 'Unthinkable and unacceptable' to not commit to peaceful transition of power Two Louisville police officers shot amid Breonna Taylor grand jury protests MORE will not renew the waivers, which were scheduled for renewal on May 2. With the announcement, the White House is forcing countries to stop purchasing Iranian oil or be met with sanctions.

“This decision is intended to bring Iran’s oil exports to zero, denying the regime its principal source of revenue," White House press secretary Sarah Huckabee Sarah Elizabeth SandersSarah Sanders on Trump's reported war dead criticism: 'Those comments didn't happen' Sarah Sanders memoir reportedly says Trump joked she should hook up with Kim Jong Un McEnany stamps her brand on White House press operation MORE Sanders said in a statement Monday.

Reuters noted that oil prices on Tuesday reached their highest level since November.