Last night, it was reported that the P5+1 countries (the permanent members of the U.N. Security Council plus Germany) had reached a deal with Iran over its nuclear program after meetings in Geneva.
Some of the requirements in the deal include Iran halting uranium beyond 5 percent and allowing inspectors daily access to the Natanz and Fordo nuclear sites in exchange for economic assistance in the form of sanctions relief. For a full outline of the conditions of the deal click here.
In a brief statement last night President Obama called the deal "an important first step," adding that, "Since I took office, I've made clear my determination to prevent Iran from obtaining a nuclear weapon."
Although a commitment from the P5+1 countries to not impose any new nuclear-related sanctions on Iran for six months is part of the economic assistance included in the deal, the "overwhelming majority of the sanctions regime, including the key oil, banking, and financial sanctions architecture, remains in place."
According to the Associated Press, the deal comes after a series of secret meetings between the U.S. and Iran over the past year, which helped pave the way for the deal announced yesterday.
Israeli President Benjamin Netanyahu has said that the deal is "a historic mistake," and that "this agreement has made the world a much more dangerous place."
Watch Netanyahu's comments below:
Read Reason's Ed Krayewski's case against new sanctions on Iran here.