Tensions between Washington and Tehran flared after Iranian forces on Thursday shot down a US drone, the latest in a series of incidents including attacks on tankers in sensitive Gulf waters.
US President Donald Trump on Friday called off a planned retaliatory strike at the last minute, tamping down the threat of military action.
He said Washington would instead place "major additional sanctions on Iran on Monday".
Last year, Trump unilaterally pulled the US out of a landmark 2015 deal meant to curb Iran's nuclear programme in exchange for sanctions relief.
The US has since imposed a robust slate of punitive sanctions on Tehran designed to choke off Iranian oil sales and cripple its economy -- which he now plans to expand.
Trump, who has waged a "maximum pressure" campaign against Iran, has also said the US is prepared to negotiate with the Islamic republic with "no preconditions".
"America's claim of readiness for unconditional negotiation is not acceptable with the continuation of threats and sanctions," Hesamodin Ashna, an advisor to Iran's President Hassan Rouhani, said Monday on Twitter.
"We consider war and sanctions to be two sides of the same coin," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.