Iran will sell its oil and break sanctions reimposed by the United States on its vital energy and banking sectors, Iranian President Hassan Rouhani told economists at a meeting broadcast live on state television on Monday.
"America wanted to cut to zero Iran's oil sales ... but we will continue to sell our oil ... to break sanctions," Rouhani said.
In May, U.s. President Donald Trump pulled Washington out of world powers' 2015 nuclear deal with Iran and reimposed a first round of sanctions on Iran in August.
The US government's sanctions against Iran go into effect on Nov.5. The sanctions are designed to target Iranian oil exports and the country's financial sector.
The sanctions are aimed at dissuading third countries from doing business with Iran. While the US government has issued waivers to eight nations, including India, multiple European countries and Japan and South Korea have already stopped purchases of Iranian oil.