Iran called out its regional rival Saudi Arabia in response to accusations that Tehran is a leading state sponsor of terror, accusing Riyadh and the United States of fomenting 'dangerous escalations' in the Middle East.

Speaking to CNBC's Hadley Gamble at the Doha Forum in Qatar, Iranian foreign Minister Javad Zarif rejected the label of the world's top sponsor of terrorism ascribed to it by Saudi Arabia and the U.S.

"I think actions speak much louder than words; what is happening in our region, now people are witnessing the source of instability in region, be it in Yemen, be it elsewhere," the minister said.

"It's the wrong policies that are being followed, not only by Saudi Arabia but by its allies in the West who have given it a blank check to continue to make these very dangerous escalations in the region," Zarif added.

Zarif's hit at Saudi Arabia was unsurprising, given the recent years of escalation between the Shia and Sunni powerhouses grappling for greater influence in the Middle East.

His comments referred to the four-year long civil war in Yemen, where a Saudi-led bombing campaign has contributed to thousands of deaths, economic collapse and what the U.N. has called the world's worst humanitarian crisis. For their part, the Saudis have blamed Yemen's Houthi rebels, who receive support from Tehran.