Obama praised the framework agreement on Iran's nuclear programme as a "historic understanding" and a "good deal" that is better than risking "another war" in the Middle East and one that would "cut off every pathway" Iran could take to develop a nuclear weapon.
"This has been a long time coming," Obama said in his remarks from the Rose Garden in White House following the announcement of the breakthrough achieved between Iran and six world powers in Lausanne, Switzerland, after marathon talks.
Obama said the United States, along with its allies, reached a "historic understanding with Iran, which, if fully implemented, will prevent it from obtaining a nuclear weapon."
"Today, after many months of tough, principled diplomacy, we have achieved the framework for that deal. And it is a good deal, a deal that meets our core objectives. This framework would cut off every pathway that Iran could take to develop a nuclear weapon," Obama said.
According to "parameters" of the agreement published by the US State Department, Iran must reduce the number of its centrifuges that can be used to enrich uranium into a bomb by more than two-thirds.
The parties have set a deadline of June 30 to reach a comprehensive pact, but these negotiations are expected to be tougher than those that led to the framework agreement.
Iranian foreign minister Javid Zarif called it a "win-win outcome", but warned: "We have taken a major step, but are still some way away from where we want to be."
House Speaker John Boehner slammed it as an "alarming departure" from the White House's initial goals.
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