G7 summit: Obama, Hollande reach agreement on Ukraine crisis, Iran nuke deal

United States President Barack Obama and French President Francois Hollande have reportedly agreed on some of the world's most pressing issues, including the imposition of sanctions on Russia in the light of its actions in Ukraine and the need to curb Iran's nuclear ambitions, the White House said.

The two leaders agreed that the economic sanctions against Russia should stay in place until the country fully abides by the terms of the peace accord that was struck with Ukraine last year, reported The New York Times.

Although Paris had taken a harder line and had expressed more scepticism than Washington DC on the Iran nuclear talks, both Obama and Hollande concurred that the two nations, along with other world powers, will stay united in pursuit of a nuclear deal with Tehran.

The White House further informed that the two leaders also discussed climate change, trade, countering Islamic State (IS) militants in Iraq and Syria and the instability in Libya.

The two leaders met on the sidelines of the G7 summit in Elmau, Germany.