According to TASS, Alexander Novak said on the sidelines of the Russian Energy Week forum in Moscow's central exhibition hall, "If new sanctions are imposed, we will continue our cooperation."
Novak added, "We are interested in continuing cooperation with Iran, which is our long-term economic partner. Certainly, we need to further find the forms of cooperation to fulfill joint projects."
The minister said he constantly maintains contact with Iran's Oil Minister Bijan Namdar Zanganeh and hopes to hold a meeting with him on Wednesday.
"We discuss our cooperation and if he takes a flight today we will find time for bilateral contacts," Novak told reporters.
In May 2018, US President Donald Trump announced Washington's decision to withdraw from the Joint Comprehensive Plan of Action (JCPOA).
He warned the United States would reinstate its old anti-Iranian sanctions and would impose new ones.
The first round of sanctions covering Iran's automotive sector and trade in gold and metals was reimposed overnight to August 7.
Further sanctions are to come into effect from November 4 in a bid to reduce Iran's oil revenues to zero.
Meanwhile, other signatories to the deal — Russia, China, France, Germany and the United Kingdom — condemned the United States' move and reiterated their commitment to the JCPOA.
The European Union has introduced a blocking regulation, which declares the US sanctions against Iran invalid on EU territory and prohibits European companies from implanting them.
The international energy effectiveness forum, Russian Energy Week, is being held in Moscow's central exhibition hall from October 3 to 6 with the heads of major international energy companies, leading world experts and mass media taking part.