Putin's remarks were made to reporters at an economic forum in St Petersburg and broadcast on state TV.
"Globally, if a whole country, particularly a centre of power, acts that way, the situation may have negative, if not devastating consequences", he said.
Washington's withdrawal from the pact raises the prospect that Russian or French companies doing business with Iran could be hit with unilateral USA sanctions.
While criticizing the USA policy on Iran, Putin had some warm words for Trump and held out hope for holding a summit with him. "I intend to abide by this rule".
The Russian leader pointed to the presence of large numbers of foreign executives at the event as evidence that the US sanctions were failing to achieve their aim. "He fulfilled his campaign promises and in that sense he might have won in terms of domestic politics", Putin said.
"We are hostages to this internal strife in the United States", Putin said.
The French and Russian leaders will "take the time for an in-depth, one-on-one discussion", the French Presidency said in a statement. Macron responded on a serious note that France and its allies could stand for themselves.
Putin and Macron met in France a year ago, just weeks after Macron's inauguration.
Ahead of the visit, Foreign Minister Jean-Yves Le Drian told France Inter radio: "We must have a frank dialogue with Russian Federation, but also a demanding dialogue".
Putin sharply criticized the sanctions, saying they signal "not just erosion but the dismantling of a system of multilateral cooperation that took decades to build".
Mr. Putin spoke highly of the 19th Communist Party of China (CPC) National Congress, which he said had created more favourable conditions for further development of bilateral ties in the long run. However, some observers have suggested he might seek to have the constitution changed.