Obama hints at 'possible compromise' on Iran sanctions relief

U.S. President Barack Obama has hinted that Iran could receive significant reprieve from sanctions post finalizing a deal to curb its nuclear ambitions, one of the key demands put forward by the Middle East nation.

Obama however, added that such a move would also come with a provision to allow international sanctions to be quickly re-imposed if Tehran violated the agreement it is now negotiating with world powers, reported Fox News.

He added that the main concern was to make sure that if Iran did not abide by the nuclear accord then the world powers don't have to "to jump through a whole bunch of hoops" in order to re-impose sanctions.

Obama noted that it will require some "creative negotiations" but added that he was confident that it will be successful.

Such solutions could also include a faster timetable for lifting sanctions and also freeing up to tens of billions of dollars in Iranian oil revenue that had been frozen. But Obama made no reference to that money.

A White House official later clarified the president's statement by saying that he will not accept any deal without phased sanctions relief.

The pace at which sanctions are to be lifted has become a flashpoint as Iran and world powers negotiate to move from a preliminary agreement made earlier this month to a final deal by a June 30 deadline.