Iran says it can "weather U.S. sanctions"

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Washington is addicted to sanctions, and a review of "the history of U.S. foreign relations shows that this country has imposed the most sanctions on the majority of countries," Zarif was quoted as saying by Press TV.

TEHRAN, July 29 (Xinhua) -- The Iranians can pass through the current "critical" stage in the face of revamped U.S. sanctions, Iran's Foreign Minister Mohammad Javad Zarif said on Sunday.

The first part of the sanctions will snap back on August 6. These sanctions will include targeting Iran's automotive sector, trade in gold, and other key metals.

Washington's withdrawal from the landmark Iran nuclear deal was criticized across the world. Some of its major European allies have been working to prevent the 2015 deal from falling apart.

(File photo)Iran's Foreign Minister Mohammad Javad Zarif speaks during a meeting with a group of economists in the capital Tehran on July 16, 2018. (AFP photo)

The remaining sanctions will snap back on November 4. These sanctions will include targeting Iran's energy sector and petroleum-related transactions, and transactions with the Central Bank of Iran.

U.S. sanctions on Iran will snap back in August and November, a move after American withdrawal from the Iran nuclear deal on May 8.

He drew upon the U.S. threat of sanctions snap-back against Iran, saying that Iran will be able to improve the situation as "the world stands with us and we should use this opportunity."

"We can turn pressures into an increase in national production and non-oil exports and show the Americans that they should abandon" their approach of sanctioning, he said.

Iran said that European countries will soon offer a package to protect Iran's interests in accordance with the 2015 deal.