IRNA - Chief of the Central Bank of Iran (CBI) on Friday described the US sanctions on Iran as 'economic war.' The economic war, imposed on Iranian people, is not less than a military war, the CBI Governor Abdolnaser Hemati said in a message, posted on his Instagram account. He cautioned the Iranian people and officials against the US' psychological war and said the US government is resorting to psychological war and propaganda to concede its defeats in field of sanction. The US president announced early May that Washington would pull out of Iran nuclear deal and reinstate sanctions, which had been lifted under the accord. The first round of the sanctions snapped back into place in August, with the second round, targeting the energy and oil sectors that took effect on November 5. This is while other signatories to the deal (i.e. Britain, France, Germany, China and Russia) have thus far criticized Washington's unilateral move and repeatedly renewed their commitment to the deal.