Iranian President Hassan Rouhani rejected any talks with the US and called on Tuesday for the government to be given more power to run the sanctions-hit economy in an "economic war."

President Donald Trump withdrew the US a year ago from a 2015 nuclear deal between Iran and global powers under which Tehran curbed its uranium enrichment capacity, a potential pathway to a nuclear bomb, and won sanctions relief in return.

Trump restored US sanctions on Iran last year and has ratcheted them up this month, ordering all countries to halt imports of Iranian oil or face sanctions of their own.

"Today's situation is not suitable for talks and our choice is resistance only," the state news agency IRNA quoted Rouhani as saying.

Trump said on Monday that Iran would be met with "great force" if it attempted anything against US interests in the Middle East, adding that he was willing to have talks with Tehran "when they're ready."

Rouhani compared the situation to Iran's war in the 1980s against Iraq and said the government needed similar powers to those it was given at the time to manage the economy.

"In no earlier period have we faced today's problems in banking and oil sales, so we need everyone to concentrate and feel the conditions of economic war," Rouhani was quoted as saying by IRNA state news agency.

Iran set up fast-track courts last year after Supreme Leader Ayatollah Ali Khamenei called for "swift and just" legal action to confront an "economic war" by foreign enemies.

On Tuesday, judiciary spokesperson Gholamhossein Esmaili said one of the courts had sentenced 10 businessmen to up to 20 years in jail on charges including "economic sabotage," news agency Fars reported. Iran executed at least three businessmen for economic crimes last year.

The rial currency lost about 60 percent of its value in 2018 under the threat of the revived US sanctions, disrupting Iran's foreign trade and boosting annual inflation.

Washington's European allies say they disagree with Trump's decision to pull out of the nuclear deal.

They have sought to ensure Iran still benefits from the nuclear deal by finding ways for foreign companies to do business there. But in practice this has so far failed, with companies cancelling investments for fear of US punishment.