“From the outset of this Administration, President Obama has made preventing Iran from acquiring a nuclear weapon a national security priority of the highest order. To address this threat, we have worked together with Congress and our international partners to establish and implement the most comprehensive set of economic sanctions in history. These sanctions helped bring Iran to the negotiating table to engage in serious diplomacy to address the world’s concerns about its nuclear program.
Today, we and our partners in the P5+1 and the EU have reached a major milestone: a political framework for a Joint Comprehensive Plan of Action regarding Iran’s nuclear program that will close off every pathway for Iran to develop a nuclear weapon and will ensure that Iran’s nuclear program will be used exclusively for peaceful purposes.
In return, the P5+1 have agreed to relieve nuclear-related sanctions on Iran in phases, subject to verification that Iran has taken agreed steps with respect to its nuclear program. This is not a framework based on trust, it is based on unmatched verification.
If Iran fails to abide by its commitments, the sanctions relief is reversible. And we will continue to use all of our available tools, including sanctions, to counter Iran’s support for terrorism, human rights abuses, and destabilizing regional activities.
While this is an historic step, as the technical negotiations with Iran continue, it is important to underscore that an agreement will only be reached if it meets the President’s commitment to prevent Iran from acquiring a nuclear weapon. If we are able to reach such an agreement, the Treasury Department looks forward to supporting a strong and lasting understanding that will settle one of our greatest security threats.”