Mohammad Reza Rahimi says Iran will only conduct business in Iranian rials and the currencies of countries with which they trade.

The Monday remarks come as a response to sanctions imposed in June by the UN for Iran's refusal to halt uranium enrichment, as well as further unilateral US and European Union sanctions passed in July.

The United States and its allies are concerned Iran's continued uranium enrichment could ultimately produce a nuclear weapon. Iran denies this, saying it only seeks nuclear energy for peaceful purposes.