TEHRAN, Iran (AP) — Iran is ready to revive talks with the world powers, President Mahmoud Ahmadinejad said Thursday, as toughening sanctions aim at forcing Tehran to sharply scale back its nuclear program.

Even so, he insisted that the pressures will not force Iran to give up its demands, including to continue enriching uranium, that led to the collapse of dialogue last year.

The United States and its allies want Iran to halt making nuclear fuel, which they worry could eventually lead to weapons-grade material and the production of nuclear weapons.

Iran says its program is for peaceful purposes — generating electricity and producing medical radioisotopes to treat cancer patients.

The 27-member European Union imposed an oil embargo against Iran on Monday, part of sanctions to pressure Tehran into resuming talks on the country's nuclear program. It follows U.S. action also aimed at limiting Iran's ability to sell oil, which accounts for 80 percent of its foreign revenue.