Iranian Deputy Oil Minister Abdolhossein Bayat said Saturday that US new sanctions against Iran's petrochemical industry is "illegal,”. The energy official stressed that "Iran's petrochemical industry is rapidly progressing and illegal sanctions will not stop the process of this industry's development and progress." The U.S. government on Friday slapped sanctions on Iran's petrochemical industry as part of its efforts to intensify the squeeze on Tehran's economy. In a written statement, the U.S. Treasury Department announced sanctions on eight Iranian petrochemical companies that are "owned or controlled by the government of Iran."