“Saudi Arabia will suffer losses for severing relations with Iran,” Jahangiri said in a speech on Monday after diplomats from Saudi Arabia quit Iran.
The Saudi foreign ministry announced on Sunday it was cutting diplomatic ties with the Islamic Republic following angry protests in Iran at the execution of prominent Shiite cleric Sheikh Nimr al-Nimr by Riyadh.
Jahangiri further said Iran is a major regional power and should be respected, adding that Tehran showed restraint over recent disputes with Riyadh and Saudi Arabia should have acted the same.
The Iranian first vice-president urged Saudi Arabia to abandon destructive, hasty, irrational and emotional moves.
Saudi Arabia’s execution of 47 prisoners, including Sheikh Nimr, on Saturday drew global condemnation.
The executions took place in 12 cities in Saudi Arabia, four prisons using firing squads and the others beheading. The bodies were then hanged from gibbets in the most severe form of punishment available in the kingdom's law.
Sheikh Nimr had been detained in July 2012 on charges of delivering anti-regime speeches and defending political prisoners.