FUSION 'Landmark' Agreement... Deal Of A Lifetime... 'Surprisingly Specific And Comprehensive'... 'Well Beyond What Many Of Us Thought Possible'... 'Astonishingly Good'...Iran To Shut Down 12,000+ Centrifuges... Enriched Uranium Cut By 97%... Obama: 'Historic Understanding'... World Leaders Have A Tentative Agreement – Now They Have To Sell It... Two Major Sticking Points Remain... BIBI BALLISTIC: Deal 'Would Threaten The Survival Of Israel'... Hillary: 'Diplomacy Deserves Chance To Succeed'... Iranians Rejoice: 'This Will Bring Hope To Our Life'... What It Means For Obama's Legacy... READ: Key Points... Full Text...

Iran and six world powers agreed to a framework for a final deal on Iran's controversial nuclear program, officials announced Thursday.

World Leaders involved with Iran Deal

The understanding paves the way for the start of a final phase of talks that aims to reach a comprehensive agreement by the end of June. The agreement concludes weeks of intense negotiations and comes two days beyond the initial March 31 deadline for an outline deal.

"We have reached solutions on key parameters on a joint comprehensive plan of action," EU foreign affairs chief Federica Mogherini said at a joint press conference with Iran's Foreign Minister Javad Zarif in Lausanne, Switzerland.

Reading a statement on behalf of negotiators, Mogherini specified that Iran has accepted limitations on its enrichment capacity that include retaining only one enrichment facility, Natanz. The Fordo fortified site will be converted into a scientific center, according to the statement.

Europe and the United States will end nuclear-related economic and financial sanctions on Iran under the future deal after the United Nations' nuclear agency confirms Tehran's compliance with the deal.

“We will now start drafting a comprehensive text,” Mogherini said. U.S. President Barack Obama lauded the agreement as a "historic understanding" in a press statement outside The White House. more