TEHRAN - Iran criticized new round of US sanctions which came into effect on Monday, saying that imposing fresh sanctions only complicates its nuclear issue, Tehran Times daily reported Wednesday.

"There is no doubt that the imposition of new sanctions is a failed policy, and we are surprised to see that the US government and its allies repeat the wrong and failed policy," Iranian Foreign Ministry spokesman Abbas Araqchi was quoted as saying.

US new sanctions, which are aimed to put further pressure on Iran over its controversial nuclear program, ban gold sales to and trades in gold with the Islamic republic, and put further embargo on its shipping and automobile sectors.

To circumvent Western financial sanctions which restrict money return in exchange for energy exports, Iran is believed to have received gold from its natural gas and oil customers.  

"The intensification of sanctions is not a solution to Iran's nuclear issue and will not help settle it," said the Iranian spokesman, adding that "lifting sanctions can help resolve the issue and serve as a confidence-building measure."  

Iran's energy and financial sectors are under intensive sanction pressures by the United States and its allies which suspect that Iran's nuclear program might be aimed at weapon-grade activities, but Iran insists that it's for civilian use.