President Donald Trump has warned that countries doing business with Iran will "NOT be doing business with the United States" as his administration reimposed sanctions on Iran Tuesday.
In an early morning tweet, Trump described the measures as "the most biting sanctions ever" and warned they would "ratchet up to yet another level" in November, when US sanctions on Iranian oil will be reimposed.
"I am asking for WORLD PEACE, nothing less!" Trump added.
Trump's warning appeared to be aimed at the European Union, which is attempting to protect European businesses trading in Iran from facing US sanctions.
US sanctions are being unilaterally reimposed on Iran in waves following Trump's decision to withdraw from the Iranian nuclear deal earlier this year.
Tuesday's round of US sanctions affects, among other things, the purchase or acquisition of US dollars by the Iranian government, the country's auto industry and trade in gold or precious metals.
Iranian President Hassan Rouhani described the sanctions as "pyschological warfare" on Monday but said Iran was willing to hold talks with the US to resolve the matter.
On Monday, the European Commission and the three European nations who negotiated the Iran deal -- France, Germany and the UK -- said they deeply regretted the reimposition of sanctions.
In a joint statement, the European powers said the agreement to curtain Iran's nuclear program was "working and delivering on its goal," and that they were determined to "protect EU companies doing legitimate business with Iran from the impact of US extra-territorial sanctions."
Several international companies have already pulled out of Iran amid growing uncertainty over whether they would face US sanctions for doing business in the country.