"In its 40-year history, the Islamic revolution has never been the source of any tension but in the face of arrogance, we have never hesitated to respond", said council secretary Mohsen Rezai.
"If Britain does not release the Iranian oil tanker, it is the (Iranian) authorities duty to seize a British oil tanker", Maj.
Spain, however, is considering a formal complaint to the United Kingdom as the seizure took place in waters it considers its own, a spokesman for the Spanish foreign affairs ministry said by phone.
By restricting Iran's ability to move oil, US sanctions have choked off Tehran's Syrian allies, causing fuel shortages in government-controlled areas.
Rezaei led the elite Guard during Iran's 1980s "Tanker War" in the Persian Gulf targeting the oil trade of the US and its Arab allies.
The Grace 1 supertanker was boarded by Royal Marines off Gibraltar, the British territory at the entrance to the Mediterranean.
Spain is said to monitoring the incident as it maintains a claim to Gibraltar which it ceded in 1713.
The Grace 1 tanker was seized after Gibraltar received information that offered "reasonable grounds" to conclude that the vessel was likely to be delivering oil to Syria in breach of European Union sanctions on that country, according to a statement from the government in Gibraltar, which is indirectly ruled by Britain.
With nuclear diplomacy at the heart of the crisis, Iran announced this week it had amassed more fissile material than allowed under its deal, and said it would purify uranium to a higher degree than permitted from July 7.
Frank Lampard Agrees Personal Terms with Chelsea
The former Chelsea midfielder is the Blues' all-time leading scorer with 211 goals during his 11-year career with the club. On Monday, Derby gave Lampard an initial two days of authorised leave to complete the move.
Mr Borrell, who is set to take over as the EU's foreign policy chief, said the Spanish Government had been kept informed about the seizure.
Speaking in Madrid on Thursday, Spain's caretaker foreign minister, Josep Borrell, said Spanish authorities were "looking into how this (operation) affects our sovereignty".
What is new are US sanctions on Iran itself, imposed a year ago when US President Donald Trump pulled out of an agreement that had guaranteed Tehran access to world trade in return for curbs on its nuclear programme.
According to Spanish officials, the Grace 1, Panamanian-flagged tanker carrying Iranian oil, was seized by British patrol ships off Gibraltar and was detained on the USA orders.
As reported in The Daily Telegraph, the Grace I tanker had to travel around South Africa and it's believed the USA requested the action.
In a statement, the British government welcomed the "firm action" by authorities in Gibraltar.
A detachment of Royal Marines from 42 Commando boarded the vessel on Thursday in a joint operation with the Royal Gibraltar Police.
It may be recalled that Washington has imposed tough sanctions against Iran's oil sector, and has since then threatened to apply secondary sanctions against any country or company that continues to engage in the purchase of energy resources from the country.
The ship sailed around the Cape of Good Hope after loading around mid-April off Iran and spending time at anchor in two different locations in waters off the United Arab Emirates.