Israeli Prime Minister Benjamin Netanyahu on Tuesday, October 16 lauded new EU sanctions on the Islamic Republic, saying such measures were having a strong impact on the Iranian economy, The Jerusalem Post reported.

"I want to commend the EU for the tough sanctions that were adopted yesterday against the greatest threat to peace in our time," Netanyahu said in an address to EU diplomats. "These sanctions are hitting the Iranian economy hard."

"These sanctions are hitting the Iranian economy hard," he added. "We'll know they are achieving their goal when the centrifuges stop spinning and when the Iranian nuclear program is rolled back."