SHANA -- "Saying that the US will bring Iran's oil exports to zero is an irrelevant statement," said First Vice President Eshaq Jahangiri, noting there is however a possibility that Iran's oil exports would diminish after re-imposition of US sanctions.

Addressing a gathering of university chancellors and deans on Monday, the official said the country was in a perilous state but it did not mean that all factors were threatening; rather, opportunities could be created even in difficult times.

He said the domestic capabilities and resources should be tapped to tackle potential embargoes, adding universities and research centers are the best places for finding ways to fight the sanctions.

Mr. Jahangiri said when the US targets Iran's economy, merely economic decisions could not be the best way to counter it.

"The US is attempting to bring Iran's oil sales to zero by imposing banking and transportation restrictions, and the administration, despite all the difficulties and hardships, is seeking solutions to quash their [US] plans."