Trump was reportedly encouraged to waive the sanctions by Secretary of State Rex Tillerson and national security advisor H.R. McMaster, who warned the President that it would look like he was breaking the USA commitments of the deal.
Iran's Foreign Minister Mohammad Javad Zarif had earlier said on Twitter that the deal was "not renegotiable" and that Trump's move "amounts to desperate attempts to undermine a solid multilateral agreement".
"This is a last chance".
The president charged that Iran has gotten "far too much in exchange for far too little", and threatened not to renew the waivers when the next approval period comes.
It has also said it will stick to the accord as long as the other signatories respect it, but will "shred" the deal if Washington pulls out.
The Islamic Republic's foreign ministry said in a statement that it would not "move beyond its commitments" to the existing agreement, to which Trump has extended the USA commitment for another 120 days, Iran's state-run Islamic Republic News Agency (IRNA) reported on Saturday.
In October, Trump decertified the nuclear deal under USA law, saying the sanctions relief was disproportionate to Iran's nuclear concessions, and describing the arrangement as contrary to America's national security interests.More news: Activists slam French icon and other critics of #MeToo movement
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Trump has argued behind the scenes that the nuclear deal makes the United States look weak, a senior U.S. official said.
He was responding to US President Donald Trump's announcement on Friday that he would reintroduce sanctions on Iran if a new nuclear deal is not negotiated within the next four months. Trump is hoping to fix the sunset clause in the deal, which removes restrictions on Iran's nuclear programs by the end of 10 years, as well as make clear that Iran's nuclear and missile programs are "inseparable" and in need of restrictions.
"Ballistic capability is the only deterrent against enemy threats", Boroujerdi was quoted by ISNA as saying, "after Iran has agreed to have no nuclear weapons and to use no weapons of mass destruction such as chemical and biological weapons, because it is totally against the use of weapons of mass destruction".
The Trump administration also said it hopes for an amendment to congressional legislation that imposes triggers on Iran of its own- and that for the first time characterizes Tehran's ballistic missile program as "inseparable" from its nuclear work, bringing with it harsh sanctions.
Trump in October chose not to certify compliance and warned he might ultimately terminate the accord.