Iran's president says US to 'regret' for re-imposing sanctions

"Negotiations with sanctions don't make sense," he stressed, noting that Trump's recent call for direct talks with Iran was only aimed at creating division in the country.

The White House said in a statement Monday that the United States will activate on Tuesday a slew of sanctions on Iran's financial and industrial sectors.

The action will bring US sanctions against Iran to the level on par with those prior to the major multilateral nuclear deal reached in 2015.

US President Donald Trump withdrew the United States from the Joint Comprehensive Plan of Action (JCPOA) on May 8 while other signatories vowed to remain committed to it.

The first batch of sanctions, which will take effect at 12:01 am Tuesday (0401 GMT), target Tehran's purchase of US banknotes, trade in gold and other precious metals, as well as the use of graphite, coal, aluminum and steel in industrial processes.

They also affect transactions related to the Iranian Rial, the issuance of sovereign debts, and the country's automotive sector.

Another round of sanctions, to be reinstalled in November, will be on Iran's port, energy and shipping sectors, its petroleum-related transactions, and foreign transactions with the Central Bank of Iran, according to the statement.