Trump slams sanctions on Iran

The president said the measures that took effect on Monday night were the most "biting sanctions ever imposed", and warned of the further sanctions due to come into force on November 4 that will target sensitive energy and shipping sectors.

Trump's top security adviser on Monday urged Iran to take up an offer of talks with the United States or suffer more pain from economic sanctions, but Iran's president said Washington needed first to prove it can be trusted.

The commission says this is created to protect European Union firms in Iran by allowing them to recover any USA damages, including legal costs.

"Our policy is based on a clear-eyed assessment of the Iranian dictatorship, its sponsorship of terrorism, and its continuing aggression in the Middle East and all around the world", President Trump said in a statement.

It called on the global community "not to allow such significant achievements in multilateral diplomacy to be sacrificed in the name of American aspirations to settle political scores with Iran".

Iran took a series of measures to try to limit the effect of USA sanctions on their economy over the weekend.

"Negotiations with sanctions doesn't make sense".

Iranians are already seeing the effects of the sanctions, with Iran's rial currency losing around half its value since Trump announced the United States would withdraw from the nuclear accord.

The tweet comes as sanctions suspended under the nuclear deal in 2015 were reimposed at midnight Washington time, barring transactions with Iran in currency, some metals, food and carpets.

The official said the United States expects Iran will blame it for any new hardships, saying, "They've been doing it for nearly 40 years". The currency's collapse and soaring inflation have sparked sporadic demonstrations in Iran against profiteering and corruption, with many protesters chanting anti-government slogans.

The Iranian people will be the ones to suffer most from the new sanctions, analysts say.

"It is a commercial decision for companies whether they continue to work in Iran".

But many large European firms are leaving Iran for fear of United States penalties, and Trump warned of "severe consequences" for firms and individuals that continued to do business with Iran.

"The EU does not have the power to prevent the imposition of U.S. sanctions, either primary or secondary sanctions. I can't afford to buy food, pay the rent." said a construction worker on the streets of the capital.

European Union diplomatic chief Federica Mogherini said the bloc, as well as Britain, France and Germany, deeply regretted Washington's move.

Mr. Erdan, who also heads the Strategic Affairs Ministry, praised the US for reimposing punitive sanctions on Iran that brought back into effect the harsh penalties lifted under the Iran nuclear deal.

"In anticipation of the sanctions, a lot of Iranian business people have transferred their assets and capital overseas, so that's why the economic situation has already been deteriorating".

President Trump said on Monday the U.S. was "fully committed to enforcing all of our sanctions" and would aim "to ensure complete compliance".

Rouhani praised Europe for "resisting the Americans" in its call "to join the regime of sanctions".