Iran Nuclear Deal Offers Sanctions Relief for Nuclear Concessions

A deal has been reached among six world powers and Iran to limit nuclear activities by Tehran.
3:00 | 11/24/13

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Transcript for Iran Nuclear Deal Offers Sanctions Relief for Nuclear Concessions
this historic deal with iran reached in the middle of the night. Secretary of state jn kerry and the foreign ministers from other five world powers all smiles in geneva, switzerland as they announced the deal in the wee hours, president obama then making a rare saturday night statement from the white house. Today that diplomacy open a new path to a world that's more secured. Future that we can verify that iran's nuclear program is peaceful. We should say here, not everyone agrees that this deal will make the world safer. Let's go straight to terry moran, right there in geneva, watching this whole thing play out. Terry, good morning. Terry, walk us through the nuts and bolts of this deal first. Reporter: Dan, what an extraordinary scene it was in the wee hours in the hotel behind me. This is a temporary deal but still a big deal. Iran has agreed to freeze much of its nuclear program and it has agreed to open key nuclear facilities to daily inspections by foreign officials. What does iran get? Money. 6 billion to $7 billion in sanctions relief. And finally, this is a temporary agreement, six months to buy time, build confidence, trying to achieve a comprehensive deal, as the president was describing. That's a far, far tougher thing to do, though. Terry, this has caused a major divide between the united states and israel. Israeli prime minister said that the world has become much more dangerous. Who's right here? Reporter: Well, that depends on what happens next, there's no question that israel and many critics of this deal, democrats as well as republicans in the united states, they don't want to see a freeze of iran's nuclear program, they want to see a rollback, a rollback to zero, no reactors going, no centrifuges enriching uranium. Netanyahu has made clear that he's willing to act unilaterally if he feels this deal doesn't work. Nonetheless, history in the making right there in geneva, switzerland, and our terry moran on the front lines. Terry, thank you. Much more on this historic news coming up later this morning right here on abc. On "this week" with george stephanopoulos as george speaks directly with secretary of state john kerry.

This transcript has been automatically generated and may not be 100% accurate.

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