Tehran, December 6 (KCNA) -- The chairman of the Economic Committee of the Iranian Majlis on Dec. 3 warned the U.S. and West of the sanctions.

If the U.S. and West apply sanctions on the energy field of Iran, the world oil price will rise drastically, he said, adding that if then, the U.S. and West will pay fabulous amount of funds to meet their need for energy.

The sanctions will have no influence on the economic activities of Iran and will end in failure, he noted, stressing that Iran will become the final victor in showdown with the U.S. and West.