Obama acknowledges 'huge challenges' ahead in talks with Iran

WASHINGTON (Xinhua) - US President Barack Obama on Saturday pledged no more sanctions on Iran after the Islamic republic closed a first-step deal with the six major nations on its nuclear program, but acknowledged "huge challenges" ahead in talks about reaching a comprehensive agreement.

In remarks delivered at the White House, Obama hailed the deal as "an important first step toward a comprehensive solution" to Iran's nuclear program, which the West suspects is a cover for making nuclear weapons.

"For the first time in nearly a decade, we have halted the progress of the Iranian nuclear program, and key parts of the program will be rolled back," he said, adding "Iran has committed to halting certain levels of enrichment and neutralizing part of its stockpile."

According to the White House, Iran has been committed to halting enrichment above 5 percent and neutralizing its stockpile of near-20 percent uranium by means of dilution or converting.

Obama acknowledged Iran's right to peaceful use of nuclear energy as he said "We approach these negotiations with a basic understanding: Iran, like any nation, should be able to access peaceful nuclear energy."

In return for Iran's curbing of its nuclear program, Obama said "We will refrain from imposing new sanctions, and we will allow the Iranian government access to a portion of the revenue that they have been denied through sanctions."

He acknowledged "huge challenges" ahead in talks about reaching a comprehensive deal with Iran in the coming months.