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Iran's Rouhani claims renewed American sanctions won't hurt the Iranian economy

"The sanctions have had no impact on our economy because America had already used all the weapons at its disposal and there was nothing new to use against us," Iranian President Hassan Rouhani said Saturday of the Trump administration's restoration of all the sanctions previously suspended by the Iran nuclear deal, from which President Trump withdrew the U.S. earlier this year.

"[Washington] just issued a long list of banks, their branches ... and airlines and their planes," he continued. "And this shows that they are merely trying to affect the Iranian nation psychologically."

Rouhani has pledged Iran will not abide by the bans, promising to "proudly bypass your illegal, unjust sanctions." European signatories of the Iran deal have also condemned the Trump administration's move.