"Iran will bypass illegal" U.S. sanctions - Rouhani

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"America wanted to cut to zero Iran's oil sales. but we will continue to sell our oil.to break sanctions", Rouhani said.

Iranian President Hassan Rouhani said the country will continue selling its oil and break the second batch of sanctions the U.S. administration reinstated since President Donald Trump unilaterally pulled out of the nuclear deal in May.

The comments on "Fox News Sunday" come a day before USA sanctions on Iran's energy and shipping are due to snap back following President Donald Trump's decision to withdraw from the 2015 multilateral nuclear agreement.

The Europeans are working to set up a special payment system that would bypass the United States sanctions and discard the dollar in dealings with Iran.

Addressing the rally in Tehran, the commander of the elite Revolutionary Guard, Major General Mohammad Ali Jafari, said the country would resist and defeat the US' "psychological war" and the return of sanctions aimed at crippling Iran's oil exports and financial institutions.

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Among events held on the embassy anniversary was a cartoon exhibit called "Donald Salman" - a reference to the close ties between the US President and King Salman, ruler of Iran's arch-rival for regional predominance, Saudi Arabia.

Rouhani said the case needs no mediation, adding that Iran would be ready to talk with the U.S. only when the Western country begins to comply with its commitments.

Pompeo wouldn't say if India and China are receiving waivers, or if they'd delivered commitments to stop their buying. "They will definitely have a gradual escalating impact on economic conditions and, subsequently, on the relations between Iran and the US".

"Even if the United States grants exemptions, Washington will demand that the volume imported from Iran be significantly reduced", said UBS analyst Giovanni Staunovo, who expects prices to rise.

Asked on CBS whether Iran could restart its nuclear program, Pompeo said, "We're confident that the Iranians will not make that decision".

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The new American sanctions particularly hurt Iran's vital oil industry, a crucial source of hard currency for its struggling economy. The U.N.'s atomic energy agency, which was tasked with monitoring the implementation of the agreement, has certified in multiple reports that Iran is in compliance. "We are prepared to resist any pressure", Rouhani said.

All of the other signatories - China, the European Union, France, Germany, Iran, Russia, and the United Kingdom - have remained in the deal despite the USA action.

"They have the same level of emotional maturity", he said in an October interview with the New York Times. These sanctions only go into effect today, but they have already begun to bite.

Days ahead of the U.S.'s important midterm elections, Donald Trump has continued on his crusade to stoke fear in the hearts of America's conservatives with blatant lies and racism. His comments come a day after Russian Energy Minister Alexander Novak said Moscow would continue to buy Iranian oil, even after US sanctions go back into place on Monday.

Secretary of State Mike Pompeo said the U.S. aimed to reduce Iranian oil sales to zero.

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