"The countries should be aware that Iran will by no means accept these humiliating conditions and will not accede to any demand at the expense of opening a small waterway such as INSTEX," Larijani was quoted as saying by the Tasnim news agency.
He slammed the European countries for coming up with a limited trade mechanism after nine months of "procrastination."
READ MORE: EU Has to Fine-Tune New Payment Mechanism to Trade With Iran Under US Sanctions
Germany, France and the United Kingdom said last week they had set up an Instrument in Support of Trade Exchanges (INSTEX), which will initially deal with food and medicine. This was done without preconditions by the trio asked Iran to start talks on its ballistic missile program and join an anti-money laundering body in return.