Iran acknowledged for the first time on Wednesday that newly imposed sanctions "may slow down" its nuclear development, but said it will not halt it. "One can't say sanctions are ineffective," Iran's ISNA news agency quoted atomic energy chief, Ali Akbar Salehi as telling a press conference in the southern port city of Bushehr.
"If sanctions are aimed at preventing Iran's nuclear activities... we say they may slow down the work, but will not stop the activities. This is a certainty."
Salehi added the sanctions would not affect a nuclear power station nearing completion in Bushehr, which he visited on Wednesday. But he said there could be some impact on Iran's uranium enrichment plans as it would now be more difficult to procure some equipment.
He added: "If we face a problem over this equipment, we will manufacture it."
Salehi said Iran was "ready to negotiate" with the major powers over the fuel supply plan but he insisted that the talks should be on the basis of the proposal agreed with Brazil and Turkey.