TEHRAN, July 5 (Xinhua) -- Iranian President Mahmoud Ahmadinejad said Monday that sanctions against Tehran over its nuclear program will not hurt the country, local satellite Press TV reported.

"The recent round of the UN Security Council sanctions will not hurt Iran. Such moves are aimed at safeguarding the West and defending the existence of Western powers," Ahmadinejad was quoted as saying.

"They (the West) know they cannot do a damn thing with sanctions," the president said at the opening ceremony of a major steel project in the city of Bonab in the northwestern province of East Azarbaijan, according to the report.

U.S. President Barack Obama last Thursday signed a new sanction bill against Iran into law, describing it as "striking at the heart" of the Iranian government's nuclear ability.

On June 9, the UN Security Council adopted a resolution, imposing the fourth round of sanctions on Iran since 2006.
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