Tehran, Dec 25 (IANS): Iranian President Hassan Rouhani on Tuesday said that the US would not succeed in destroying the Islamic Republic despite the negative impact of Washington-imposed sanctions on the country's economic development.

Speaking before lawmakers, Rouhani said that Iran would face the sanctions' fallout through the Iranian people's cooperation with Parliament.

"Sanctions are not ineffective on people's lives, but the US will definitely fail in reaching that target," Rouhani said while presenting the country's annual budget bill.

"The main goal of the US by these conspiracies and sanctions and pressures, which are directly aimed at the great Iranian nation, people of the region and economic and commercial companies of the world against all international regulations, is to bring the powerful Islamic Republic of Iran to its knees," he was quoted as saying by Efe news.

In May, US President Donald Trump pulled out of the 2015 nuclear deal between Iran and several world powers, then implemented sanctions targeting Iran's central bank and oil exports.

"Sanctions, the faulty economic structure, psychological war and foreign relations took their toll on economic problems," the Iranian leader said.