Trump made a decision to extend sanction relief for Iran

Steven Mnuchin testifying during his Senate Finance committee confirmation hearing on Capitol Hill in Washington D.C. Jan. 19 2017

On Friday, announcing his decision to waive the application of certain sanctions related to oil sales and Iran's banking system, he said he was only making the move to secure European allies' agreement to fix the deal's "flaws".

President Donald Trump gave the Iran nuclear deal a final reprieve on Friday but warned European allies and Congress they had to work with him to fix "the disastrous flaws" in the pact or face a US exit, Reuters reports.Trump said he would waive sanctions against Iran that were lifted as part of the global deal for the last time unless his conditions were met.

As Trump agreed to the sanctions relief, US Department of Treasury said on Friday that it has imposed new sanctions on 14 individuals and entities over Iran's alleged human rights abuses and ballistic missile program, including head of Iran's judiciary and the cyber unit of the Islamic Revolution Guards Corps.

"My policy is to deny Iran all paths to a nuclear weapon - not just for 10 years, but forever", Trump said.

"I hereby call on key European countries to join with the United States in fixing significant flaws in the deal, countering Iranian aggression, and supporting the Iranian people", Trump said in the statement.

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Mr Zarif responded on Twitter that the deal was not renegotiable and that Mr Trump's stance "amounts to desperate attempts to undermine a solid multilateral agreement". JCPOA is not renegotiable: "rather than repeating exhausted rhetoric, United States must bring itself into full compliance-just like Iran", he wrote. "And if at any time I judge that such an agreement is not within reach, I will withdraw from the deal immediately", he warned. These penalties largely cut Iran out of the worldwide financial system, until they were suspended by Obama under the nuclear deal. In exchange, economic sanctions on it were lifted. The Treasury Department's action hits 14 Iranian officials and companies and businessmen from Iran, China and Malaysia, freezing any assets they have in the US and banning Americans from doing business with them. The next sanctions waivers are due in May. "No one should doubt my word".

Under the hard-won 2015 deal with Russian Federation, the US, China, France, Britain, Germany and the EU, Iran agreed to curb its nuclear programme in exchange for lifting of a raft of global sanctions.

The British and German foreign ministries said they had taken note of the decision and would confer with France before deciding on a course of action.

Iran said on Saturday it would retaliate against the new sanctions, although it did not specify how. It said the sanctions are against global law and go against US commitments, saying they would bring a "strong reaction" from Iran.

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