In recent weeks Rouhani renewed the threat, saying that if sanctions threatened Iran's crude oil exports, the rest of the Mideast's exports would be threatened as well. "But now, all the countries in the world are supporting Iran". These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level.
The US is now also pushing Pyongyang to scrap its nuclear capabilities after Trump and North Korea's leader Kim Jong Un agreed a vague commitment to "denuclearisation of the Korean Peninsula" at their landmark summit in June.
The first period started Tuesday and marked the reinstatement of sanctions on the purchase of United States bank notes by the Iranian government, Iran's gold trade and other financial and industrial transactions.
Crucially, the commission also said it "forbids European Union persons from complying with those sanctions, unless exceptionally authorised to do so".
"We condemn any unilateral sanctions in circumvention of the decisions of the UN Security Council, especially when they have extraterritorial application and affect the interests of third countries", the Russian ministry said.
"Stopping US trade and killing 100K US jobs is fine with us, but the world won't follow impulsive tweeted diktats".
Rabiei's supporters say he is not responsible for Iran's economic crisis and were able to fend off an earlier attempt to impeach him in March.
In his announcement, the president laid out two "wind-down" periods to allow companies to wrap up their business dealings with Iran.
Trump said Monday that he was open to new talks to reach a "more comprehensive deal" with Iran.
"We urge our allies and partners to join the U.S. and deny Iran's leadership the funds to oppress the Iranian people and to foment terrorism around the world". It has also warned that the firms that choose to abide by Washington's bans may be slapped with European sanctions.
Iran's regional rivals Israel and Saudi Arabia have welcomed the tough new U.S. policy.
As the US move also puts Turkey in a tight situation, the Turkish foreign ministry said authorities are working to avoid the USA sanctions from harming Turkey.
Trump brought back the punishing sanctions after unilaterally pulling out of a landmark 2015 deal between Tehran and Western powers to halt Iran's nuclear ambitions.
'We are pleased to see German businesses stopping their trade with Iran, complying with USA sanctions, and helping pressure the Iranian regime back to the table, ' he tweeted.
The Syrian Foreign Ministry condemned Washington as well, saying that Syria supports Iran in the face of the "aggressive" USA policies.
Chinese State Councilor and Foreign Minister Wang Yi said in Singapore on Friday that China is willing to work with all parties to continue safeguarding the Iran nuclear deal.
"In the current situation, friendly countries should develop their relations and cooperation in (the) global community", he said, adding Iran and North Korea have "always had close views" on many issues.
He has said the deal "failed to achieve the fundamental objective of blocking all paths to an Iranian nuclear bomb" and did not address Tehran's "malign activities, including its ballistic missile programme and its support for terrorism".