Iran "that the Russians can not block".
The U.N. Security Council will decide whether it will renew sanctions on Yemen Monday, and add Iran to the list.
Russia's Permanent Representative to the United Nations Vassily Nebenzya said that Moscow can not agree with "unconfirmed conclusions and reports that should be double-checked and discussed by the sanctions committee".
The UN Security Council has unanimously adopted a Russia-tabled draft that will see a technical extension of sanctions against Yemen.
Commenting on the veto, a representative of the USA mission to the UN said that the United States would continue telling the world about Iran's harmful actions until Tehran halts its activities, undermining stability in the Middle East.
The Houthi movement has been defending Yemen against a bloody Saudi-led military campaign, which was launched in 2015 with the help of the United States and the UK to reinstall the country's former Riyadh-friendly government.
On Monday, the resolution gained 11 favorable votes at the 15-member Security Council but was halted by Russia's veto.
Meanwhile, Iran's envoy to the United Nations says that the USA and the UK are trying to distract the worldwide community away from Saudi Arabia's war crimes in Yemen by drafting such resolutions.
The resolution's proposed condemnation of Iran was based on a report by United Nations experts last month which concluded that Tehran was in violation of the 2015 Yemeni arms embargo because it "failed to take the necessary measures" to prevent the transfer of Iranian-made Qiam missiles and drones to Yemen. With it, the arms embargo for Yemen is prolonged for a year, but no provision is made for measures against the violation of Iran's bans.
Houthis have been controlling much of Yemen's north by force, including the capital Sanaa since 2014.
During his first trip to Saudi Arabia a year ago, US President Donald Trump signed a $110 billion arms deal with the Saudis, with options to sell up to $350 billion over a decade. In his words, Iran has to take responsibility for its actions.
In March 2015, a Saudi-led coalition began a devastating bombing campaign against the Huthis that the United Nations estimates has killed more than 10,000 people, displaced 2 million, and created the world's worst humanitarian disaster.
Iran has described the arms displayed in Washington as "fabricated".
The #Yemen panel of expert also had very harsh words for Saudi Arabia, UAE & coalition for using siege & starvation as a weapon of war.
The approved resolution made no mention of Iran.