The drill was to continue through Tuesday.
Secretary of State Mike Pompeo argued that the new Iran sanctions - going into effect one day before the us midterm elections - are tough enough to keep the Islamic Republic from pursuing a nuclear weapon. "But they're not doing very well", he said, referring to the economic setbacks the country has already faced because of an earlier round of US sanctions.
"This is an economic war against Iran but".
The Islamic Revolution Guards Corps commander added, "Our enemies intend to isolate us like an island but today the page has turned and Americans themselves are being gradually isolated, as even their traditional allies" are distancing themselves from the U.S. "We have to stand to win." the president said.
Iran's national currency, the rial, now trades at 145,000 to one US dollar - down from 40,500 to $1 a year ago. The economic chaos prompted mass anti-government protests at the end of past year that resulted in almost 5,000 reported arrests and at least 25 people being killed. Sporadic demonstrations still continue.
The other parties to the nuclear deal - Britain, France, Germany, China and Russian Federation - opposed the USA move and say the accord is working as intended in keeping Iran from obtaining nuclear weapons for now. Britain, France, Germany and the European Union strongly condemned the latest actions from Washington in a joint statement, and have vowed to preserve the nuclear deal, known formally as the Joint Comprehensive Plan of Action (JCPOA).
The Treasury designation against Parsian Bank was based on it providing financial services to the Andisheh Mehvaran Investment Company, which it found was "owned or controlled" by Iran's Zinc Mines Development Company, which it said could eventually be linked back to Iran's Basij paramilitary force.
More than 700 individuals, entities, vessels and aircraft are now on the sanctions list, including major banks, oil exporters and shipping companies.
High Representative of the European Union for Foreign Affairs and Security Policy Federica Mogherini, along with German Minister of Foreign Affairs Heiko Maas, Swedish Ministry for Foreign Affairs Margot Wallström and Danish Foreign Affairs Ministe Anders Samuelsen held a conference call with Iranian Foreign Minister Mohammad Javad Zarif Saturday, to discuss the blowback to the European Union as a result of the reimposition of USA sanctions. The president did not respond to a question about the waiver.
U.S. president Donald Trump has said that the USA sanctions will hit Iran in a "big way" from 5 November, asserting that the "toughest-ever" punitive measures have been put in place for a "corrupt regime" in Tehran.
Anger and distrust over the United States is surging again following Mr Trump's decision to withdraw from landmark nuclear deal with world powers despite Tehran's compliance with the agreement, which was negotiated under the Obama administration.