© AFP 2017/ SEPAH NEWS
Iran will allocate $520 million on the development of its own missile program in response to US sanctions, Agence France-Presse reported.

The Iranian parliament voted Sunday for allocating $520 million on the development of its own missile program, AFP reported.

"The Americans should know that this was our first action," Iran's parliament speaker Ali Larijani said after stating that the majority voted for a package "to confront terrorist and adventurist actions by the United States in the region," as quoted by AFP.

On July 29, the US Senate approved a bill on new non-nuclear sanctions against Iran over the country's missile program and human rights violations. The move has been widely criticized by the Iranian senior officials, claiming that the US bill violated the provisions of the Joint Comprehensive Plan of Action (JCPOA).

The JCPOA was concluded in July 2015 between Iran, the European Union and the P5+1 group of nations: the United States, Russia, France, Germany, the United Kingdom and China. Under the terms of the agreement, nuclear-related sanctions on Iran were lifted in exchange for assurances that Tehran's nuclear program would remain peaceful.