Obama battles sanctions push post Jan. 20 Iran nuclear deal agreement

US President Barack Obama's administration reportedly continued to battle new U.S sanctions push that could prove risky for the Iran-U.S nuclear pact, even as Iran and six world powers agreed on the terms for implementing the nuclear deal.

According to the White House, following the kick start of the deal on Jan. 20 and terms of the six-month agreement, the US and other nations will ease off existing sanction, allowing Iran to lead its nuclear program.

Iran will be entitled to receive the preciously blocked fund of 4.2 billion dollars of overseas fund in six installments that will continue through July. A fund of 550 million dollars will be issued to Iran on Feb 1, Fox news reported.

Obama issued a statement saying that concrete progress has been made following an agreement.

However, opposing the bill, Obama threatened a veto in the same statement saying the legislation could blacklist several Iranian industrial sectors and ban banks and companies from the U.S. market.