The United States and other world powers have reached an outline of a nuclear deal with Iran that would lift international sanctions on Tehran in exchange for new limitations on its nuclear program.
President Obama in comments from the White House Rose Garden described it as a "historic" agreement that would leave the United States and its allies safe by preventing Iran from acquiring nuclear weapons.
"This framework would cut off every pathway that Iran could take" to get to a nuclear weapon," Obama said.
Under the framework, negotiators would continue to negotiate through June 30 to reach a final deal.
Iranian officials quickly declared victory, arguing the deal would lift all international sanctions on the regime while allowing it to continue to develop nuclear power.
European Union Foreign Affairs Minister Federica Mogherini said the EU will terminate economic and financial sanctions under the agreement, and the U.S. will cease implementation of sanctions simultaneous with the International Atomic Energy Agency (IAEA) verifying Iran is abiding by its nuclear commitments. United Nations Security Council resolutions imposing sanctions on Iran would also be lifted.
"When we implement our measures, there won't be no sanctions against the Islamic Republic of Iran," she said.