Those sanctions target Iran's automotive sector as well as gold and other key metals.
As part of a historic 2015 agreement between Iran and six world powers, including the United States, U.S. and global sanctions related to Iran's nuclear activity were suspended once Tehran accepted technical limits on its program.
Already facing broad economic fallout as their currency implodes, Iranians are wondering how the next phase of the crisis in USA relations will play out - and what, exactly, America's long-term strategy is toward their country.
Iran says the sanctions are endangering lives by blocking the sale of new planes and spare parts for its ageing fleets.
The 2015 landmark nuclear deal provided Tehran with some relief from sanctions in return for curbs on its nuclear program.
The tensions have already fuelled a run on Iran's currency, which has lost more than half its value since April, and exacerbated widespread concerns over high unemployment, inflation and the lack of reform.
Speaking Sunday, U.S. Secretary of State Mike Pompeo said there was still a chance for diplomacy.
Protests broke out on Sunday for a sixth night in Iranian cities, including Kazeroon in the south.
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Despite recent harsh rhetoric, Trump on July 30 said he would be willing to meet with Iranian President Hassan Rohani with "no preconditions" to discuss ways of improving ties between the two countries.
MP Khoshroudi said the USA, by offering to hold talks with Iran, is seeking to make up for its lost credit.
"There is a massive loss of confidence in the financial system and the government's ability to control things and withstand sanctions". It's not inconceivable a meeting on the sidelines could occur then - Tehran will be looking anxiously to a November deadline for oil buyers to stop purchasing Iranian crude.
The United States has told third countries they must halt imports of Iranian oil from early November or face USA financial measures.
He said it will require "enormous change" by the Iranian government to break free of the USA sanctions yoke.
He added: "We are happy to talk if there's an arrangement that is appropriate, that could lead to a good outcome". "Perhaps that will be the path the Iranians choose to go down".
Trump's offer for dialogue came after Pompeo seemed to suggest support for a change in Iran leadership, telling an audience of Iranian expats in California that the regime had been a "nightmare". "But there's no evidence today of a change in their behavior".