The European Union has reached a political agreement to tighten sanctions on Iran in retaliation for the recent barrage launched against Israel, Paralel.Az reports citing Euronews.

The sanctions are designed to curtail the exports of EU-made components used in the production of unmanned aerial vehicles (UAVs), or drones, and ballistic missiles.

The scheme has also blacklisted people and entities involved in Iran's UAV programme through travel bans and asset-freezing measures.

But after Tehran's attack on 13 April against Israel, which saw over 300 projectiles headed from different fronts towards the Jewish nation, the EU began working on an expanded raft of sanctions to cover the production of missiles.

This expansion was approved on Monday by foreign affairs ministers meeting in Luxembourg and will enter into force in the coming days, once the political consensus is translated into legal acts.

"We have reached a political agreement," said High Representative Josep Borrell at the end of the meeting.

Iran is estimated to own the largest and most diverse missile arsenal in the Middle East, with more than 3,000 rockets in its stockpile and a reach of up to 2,000 kilometres.

Although manufacturing is mostly domestic, Iran still relies on foreign-made technological components that can be disassembled and redeployed into its missile programme. The country has over the years developed an intricate network of operators to obtain sensitive dual-use items, which can be used for both military and civilian purposes, and evade long-standing international sanctions.