Earlier, Donald Trump pulled out from the Joint Comprehensive Plan of Action (JCPOA), which is commonly known as the Iran nuclear deal.
European firms, especially those from France and Germany, rushed to invest in Iran following the 2015 agreement, under which Tehran agreed to freeze its nuclear program in return for the repeal of punishing global sanctions.
"I think you have to start first with the fundamental deficiencies of the deal itself", Bolton said.
"If the remaining five countries in the deal live up to their commitments and guarantee Iran's interests, the agreement will survive", he said on Sunday during a meeting with visiting Sri Lanka President Maithripala Sirisena.
Bolton, one of the key architects of the George W. Bush administration's decision to invade Iraq in 2003, despite lacking evidence that Iraq's Saddam Hussein had a programme to develop weapons of mass destruction, stuck to his famously more hawkish tone with comments that hinted that trump's White House would consider any European company that continues to honour legally binding business contracts with Iran as hostile acts.
"It won't be easy, that's clear to all of us".
The US Justice Department and Federal Bureau of Investigation are reportedly investigating Cambridge Analytica
The whole access-fiasco has been under the control of David Stillwell and Michal Kosinski at the University Psychometrics Centre. The login credentials for the website where the data was stored was available on GitHub for four years for anyone to download.
"They said that they would ensure Iran enjoys the benefits of the JCPOA and they accepted that the implementation of the JCPOA has nothing to do with other issues", he said, referring to Iran's demand that talks on saving the deal must not be linked to pressure on its missile programme and regional interventions.
"We will search this evening for ways to keep the Iran deal alive without the United States", Maas said.
Trump's decision to reimpose Iran-related sanctions would act as an "electrified rail" to those wanting to do business with the country, his British counterpart Boris Johnson added.
Iran has described the sanctions as illegal and has warned that if talks to rescue the accord fail, it would ramp up its nuclear program to a level more advanced than before. Following Trump's decision, the Treasury Department's Office of Foreign Assets Control sanctioned nine Iranian individuals and entities including those with links to Iran's Revolutionary Guard.
Speaking in the House of Commons, the United Kingdom foreign secretary, Boris Johnson, admitted it would be very hard to protect European business "due to the extra-territorial effect of USA sanctions and the difficulty companies have when they touch the live wire of the American financial network and they find themselves nearly immediately sanctioned".
At the weekend, EU Energy Commissioner Miguel Arias Canete is due to visit Tehran to discuss energy cooperation between Iran and the bloc.
German exports to Iran totalled almost 3 billion euros in 2017, while French exports soared from 562 million euros in 2015 to 1.5 billion in 2017 and oil giant Total has pledged to invest some $5 billion in the South Pars gas field.
However, on Tuesday the USA hit Iran's central bank governor with sanctions.