The deal was announced after the intense nuclear talks between Tehran and the five permanent members of the UN Security Council—Britain, China, France, Russia and the United States—plus Germany.

Iran agreed to halt some of its nuclear activities, but retain the right to uranium enrichment in return for lifting of US and EU sanctions and no new UN Security Council and EU sanctions. Iran will also receive about $7 billion (£4.3 billion) in sanctions relief.

US President Barack Obama welcomed the deal. President Hassan Rouhani said the deal recognized Iran’s nuclear rights.

In a nationwide broadcast, he also said that his country would never seek a nuclear weapon.

Tehran denies baseless claims by Western governments that it is seeking to develop nuclear weapons. It insists it will retain its natural right to enrich uranium to use in power stations.

The deal came just months after Iran elected Dr. Hassan Rouhani – regarded as a moderate – as its new president.

It has also been backed by the Leader of Islamic Revolution Ayatollah Seyed Ali Khamenei.

US Secretary of State John Kerry said the agreement would make the region safer for its allies.

But the Benjamin Netanyahu told his cabinet it was a ‘historic mistake’ and that his country reserved the right to defend itself.

The comments from the Zionist regime came as it was revealed that the US and Iran had held a series of face-to-face talks over the past year that were kept secret even from their allies.

Iran’s Foreign Minister Mohammad JavadZarif said it was an opportunity for the ‘removal of any doubts about the exclusively peaceful nature of Iran’s nuclear program’.

He also insisted that Iran had not given up its right to enrich uranium.

“We believe that the current agreement, the current plan of action as we call it, in two distinct places has a very clear reference to the fact that Iranian enrichment program will continue and will be a part of any agreement, now and in the future,” he said.

UK Foreign Secretary William Hague said the agreement was ‘good news for the whole world’.

This deal may be the most significant agreement between the world powers and Iran for a decade, said the BBC’s James Reynolds in Geneva.