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On Tuesday, the USA reinstated sanctions targeting the Iranian government's purchase of United States dollars, Iran's trade in gold and other precious metals, and its automotive sector.

Iran's utmost authority Supreme Leader Ayatollah Ali Khamenei said the Islamic Republic had nothing to be concerned about, a report on his official website said on Wednesday, as the country's clerical leadership faces biting USA sanctions.

Iranian President Hassan Rouhani, speaking in a meeting with North Korea's foreign minister, said that America could not be trusted, according to the Islamic Republic News Agency.

"China's lawful rights should be protected".

Also on Wednesday, Iranian Foreign Minister Javad Zarif said it was hard to imagine new talks with the U.S. with its erratic decision-making.

The withdrawal of the United States from a landmark 2015 nuclear deal led to the first tranche of related sanctions being reimposed on Tuesday.

Donald Trump also firmly stated that those nations that disobey and continue trade with Iran after the November 4 deadline will "not be doing business with the United States".

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"We are in solidarity with the European Union position, obviously we are closely monitoring this and we are doing everything possible on the diplomatic level to stimulate a direct dialogue between the United States and Iran, and we think that dialogue should always prevail", he said. They target USA dollar financial transactions, Iran's automotive sector and the purchase of commercial planes and metals, including gold.

Among large European companies that have suspended plans to invest in Iran are France's oil major Total and its big carmakers, PSA and Renault.

US officials have said in recent weeks that they aim to reduce Iran's oil exports to zero as a means of pressuring Tehran to halt its nuclear and missile programmes and involvement in regional conflicts in Syria and Iraq.

"It's pretty clear to us that they were trying to use that exercise to send a message to us that as we approach the period of the sanctions here that they had some capabilities", US Central Command head General Joseph Votel told Pentagon reporters.

"The Americans have assembled a war room against Iran", Zarif said. The Trump tactics have deepened an already serious economic crisis in Iran, fuelling protests around the country.

Trump said Monday that he was open to new talks to reach a "more comprehensive deal" with Iran.

In comments carried by the Office of the President, Rouhani was said to have praised the two countries' "friendly and heartfelt relationship" and mutual support for each other, while warning that Washington should not be seen as trustworthy.