"We will not yield to this pressure that is part of the psychological war against Iran," Rouhani declared during a live, televised speech he delivered from the city of Khoy.
The sanctions so far have "failed to stop our oil exports," Rouhani said, vowing to "keep exporting it."
The president said that the US blames Iran for its own failures in the region. While the sanctions targeting Iran stem from the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA), or Iran Nuclear Deal, Washington's overall posture towards the country is marked by hostility towards Tehran's foreign policy, specifically as it pertains to the rest of the Middle East. The US accuses Iran of interfering in countries like Syria and Yemen, where America is itself heavily entrenched.
US President Donald Trump pulled out of the Iran Nuclear Deal in May, imposing related sanctions first in August and adding more in early November, despite UN weapons authorities' contention that Iran has been in compliance with the terms of the JCPOA. The US was the only party to the agreement that withdrew.
The November 5 sanctions are the "toughest ever," according to Trump. The currency of Iran, the rial, has lost more than half of its value since the US withdrew from the JCPOA.
Iran has looked at relaxing its laws when it comes to the exchange of cryptocurrency in a bid to counter the devastating effects of US sanctions on its economy.