Tasnim � Iranian Foreign Minister Mohammad Javad Zarif said no matter who wins the 2020 presidential election in the US, the next American administration must compensate the Islamic Republic for the losses that its predecessor has inflicted on the Iranian people.

Zarif made the remarks in a virtual address to the annual Mediterranean Dialogues 2020 conference, which was hosted by Italy, on Monday.

Iran�s top diplomat stressed that it does not make any difference to Iran who becomes the next US president, because the new government must take steps for the compensation of losses incurred by Iran as a result of unilateral measures taken by the US administration.

"It is not important for us who will win the upcoming election in the US, but it is important for us to see Washington rectify its approach towards Tehran," he said.

Pointing to the US' economic terrorism against the Iranian nation, Zarif said those who claim that they have not imposed any medical sanctions on the Islamic Republic should know that it has not been impossible for Tehran to obtain medicines due to the banking restrictions imposed on the country.

Zarif also said the massive sale of US weapons and military equipment to different countries has been among factors behind the intensification of instability in the world, Press TV reported.

The weapons the United States sells only to Saudi Arabia each year is three times the total Iranian military and defense budget, Iran's foreign minister said.

He further stressed the importance of diplomacy as the most effective means to solve all international issues, saying that the landmark nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), signed between Iran and major world powers in 2015, was a great diplomatic achievement, which was clinched following serious and long-term negotiations and hard work.

Zarif reiterated that the Islamic Republic has complied with its commitments under the JCPOA in full, saying that Tehran signed the JCPOA with open eyes and, therefore, triggered the deal�s dispute resolution mechanism (DRM) at the right time.

Iran's foreign minister argued that five years since the conclusion of the JCPOA, Iran has not yet reaped the economic benefits of the deal due to the acts of sabotage by certain sides and Europeans' lack of commitment to their obligations.

Zarif emphasized that Iran is ready to resume all its JCPOA commitments if the European partners fulfill their obligations.