Iranian President Hassan Rouhani speaks at a press conference in Tehran, Iran, on Oct. 14, 2019. (Xinhua/Ahmad Halabisaz)

Iran is willing to return to the negotiating table if the US first drops sanctions, President Hassan Rouhani said Wednesday, after a fuel price hike sparked deadly violence ahead of elections.

European countries have been pushing for talks with Iran to salvage a 2015 nuclear deal that has all but collapsed since the US withdrew and reimposed sanctions last year.

Rouhani has long demanded the lifting of US sanctions for Iran's return to talks under the auspices of the so-called P5+1 that reached the deal - the five veto-­wielding permanent members of the UN Security Council plus Germany.

His latest statement came after a shock announcement in mid-November that the price of petrol was going up by as much as 200 percent triggered demonstrations across Iran that turned deadly. The decision came at a sensitive time ahead of a February parliamentary election.

It is a rise many Iranians can ill ­afford in a country whose sanctions-hit ­economy is expected to contract by 9.5 percent this year.

"If they are prepared to put aside the sanctions, we are ready to talk and negotiate, even at the level of heads of the 5+1 countries," Rouhani said in remarks aired live on state television.

His remarks came after France and Germany raised the possibility of triggering a mechanism in the deal that could lead to the reimposition of UN sanctions. Rouhani described the sanctions as "a cruel act by the White House."

"We have no choice but to resist and persevere," he said. "At the same time, we have not closed the window for negotiations."

The landmark 2015 deal gave Iran ­relief from economic sanctions in return for curbs on its nuclear program.

It has been at risk of falling apart since US President Donald Trump unilaterally withdrew from it in May last year and reimposed sanctions.

Known formally as the Joint Comprehensive Plan of Action, it was agreed between Britain, China, France, Russia and the US, plus Germany.