The announcement, made first by Iranian officials and later confirmed elsewhere, starts a six-month clock for a final deal to be struck over the Republic's contested nuclear program. It also signals an easing of the financial sanctions crippling Iran's economy, though some US lawmakers have called for tough measures against the country despite ongoing negotiations.
Iran's official IRNA news agency quoted Iranian Deputy Foreign Minister Abbas Araghchi confirming the news. The agency said Iran will grant the United Nations' atomic agency access to its nuclear facilities and its centrifuge production lines to confirm it is complying with terms of the deal.
Araghchi later told state television some $4.2 billion in seized oil revenue would be released under the deal. Senior officials in US President Barack Obama's administration put the total figure at $7 billion.
European Union negotiator Catherine Ashton praised the deal in a statement, saying "the foundations for a coherent, robust and smooth implementation ... have been laid." German Foreign Minister Frank-Walter Steinmeier called the deal "a decisive step forward which we can build on."
US Secretary of State John Kerry welcomed the deal in a statement as well, saying further negotiations "represent the best chance we have to resolve this critical national security issue peacefully, and durably."
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