“We have prepared a plan to run the country without any oil revenues,” Qasemi said, adding, “So far to date we haven’t had any serious problems, but if the sanctions were to be renewed we would go for ‘Plan B’.

“If you continue to add to the sanctions we (will) cut our oil exports to the world.”

Iran has in the past said it could shut the vital shipping lane of Hormuz at the head of the Middle East Gulf, through which much of the region’s seaborne oil exports pass.

Earlier on Tuesday, Qasemi said Iran was still producing 4 million barrels per day (bpd), rejecting reports the country’s output has fallen to around 2.7 million bpd.