Oct. 31 (UPI) -- Iranian President Hassan Rouhani said Wednesday U.S. oil sanctions that take effect Nov. 4 are a "new instance of oppression" by the United States.
The sanctions bar countries from buying Iranian crude oil exports, and are designed to pressure Tehran into renegotiating a new nuclear deal with the Trump administration.
Rouhani said in a televised address Wednesday those sanctions will not work.
"We are certain that the Americans will fail in their new plot, and that they are actually in gradual retreat," Rouhani said. "We tell them that 'You will not reach any of your goals with regard to Iran's oil sales. You will neither be able to bring it to zero nor reduce it.'"
The leader claimed that certain European and Asian countries have already committed to keep buying crude oil from Iran.
Rouhani said the sanctions will backfire because Iranian citizens love their country.
Under existing U.S.-imposed sanctions, Iran's currency has already fallen 70 percent against the U.S. dollar. As a result, the costs of medicine, food and other products has increased, officials said.
Several countries, including France and Britain, say the United States violated international law in May when the Trump administration withdrew from the Obama-era nuclear deal. That agreement lifted some Iranian sanctions in exchange for Tehran restricting its nuclear program.
"The U.S. will raise hue and cry for a few days but they will have to eventually leave the [the region], because they cannot make decisions for the people of the region," Rouhani said Wednesday.