Saudi officials could not be immediately reached for comment.
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The executions have triggered a diplomatic row between Saudi Arabia and Iran, with some analysts concerned by the prospect of proxy wars in the region.
Saudi Arabia severed ties with Iran on Sunday after crowds of protesters attacked two of its diplomatic posts in Iran.
The best way to settle the dispute between the two countries is through political and diplomatic means, he said, adding that the critical situation in the region requires cooperation among the countries against terrorism.
Iranian state media reported similar protests taking place in other Iranian cities and towns.
The Sunni-ruled Bahrain, which sided with Saudi Arabia in the kingdom’s spat with Iran, has cut diplomatic ties with Tehran.
CMC Markets head of strategy Michael Hewson told the news agency: “There are rising stockpiles and the tension between Iran and Saudi Arabia make any deal on production unlikely”.
“The cabinet has banned the entry of all Saudi products and products from Saudi Arabia”, a government statement said.
A spokesperson for the Saudi-led Sunni coalition conducting a military intervention in Yemen against anti-government Shia rebels known as the Houthis said there would be an investigation.
The Asian juggernaut is heavily dependent on Saudi Arabia and Iran for oil.
Both Washington and Moscow are anxious that the Saudi-Iranian spat will torpedo ongoing efforts at bringing about peace in Syria, while undermining the prospects of mobilising an global coalition against the Islamic State of Iraq and the Levant (ISIL).
The storming of the missions followed Saudi Arabia’s execution last week of a top Shiite cleric who was also an opposition figure.
Around 1,000 protestors marched through Tehran on Friday chanting “death to Al-Saud” – Riyadh’s ruling family, according to an AFP photographer.
The decision at a SAFF executive meeting Thursday comes days after individual clubs refused to travel to Iran for safety reasons when the competition kicks off next month.
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The weekend protests were in response to Riyadh’s execution of leading Shiite cleric Nimr al-Nimr, a driving force behind Shiite protests in 2011. Mohammed al-Nimr, the sheikh’s brother, said people planned to hold a service Thursday for the cleric, though Saudi authorities had already buried his corpse in an undisclosed cemetery.
