BAGHDAD, Iranian President Hassan Rohani said in a statement quoted by Reuters that Iran would sell oil and break sanctions imposed by the United States.
US sanctions against Iran entered into force on Monday.
Oil Prices were under pressure after it became clear that Washington would allow several countries to continue to import crude oil from Iran despite sanctions that officially begin on Monday.
The United States said on Friday it would temporarily allow eight importers to continue buying Iranian oil when it reinstates sanctions to force Tehran to curb its nuclear, missile and regional activities.
Under US law exceptions can be granted for up to 180 days
Washington has yet to announce the names of the eight countries covered by the exception.
China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan are the largest importers of Iranian oil, while Taiwan sometimes buys Iranian oil, although it is not a major buyer.
Source: National Iraqi News Agency