Iran Nuclear Deadline Nears

With a deadline only hours away, Iran and the six world powers are pushing nuclear negotiations into a higher gear, but major sticking points remain. Officials say an understanding could be near, but caution a last minute deal could be incomplete.
4:52 | 03/31/15

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Transcript for Iran Nuclear Deadline Nears
With a deadline only hours away Iran and the six world powers pushing nuclear negotiations into a higher gear major sticking points remain but an understanding may be in place. After nearly a week of trying to break an impasse officials cautioning that any deal struck now at the last minute could be. In complete. Hi I'm Caroline Costello in New York here with us is ABC's chief foreign correspondent Terry Moran live in response Switzerland Terry thank you for joining us. Officials from the US Britain France Germany Russia and China working around the clock and was on and there's talk now that a deal is near what are you hearing. Look at what we hear is that did bad deal is probably not what is gonna happen tonight they'll call it an understanding they'll have a big announcement and they will say that we gray. To continue talking. That will infuriate. Critics of the negotiations who have said that Iran is stalling and trying to trying to. Out out. To get an atomic bomb anywhere nuclear weapon anyway what we are hearing right now is that the two sides are so close they don't wanna walk away from the table just over those divisions what they do want to do is commit. To finishing this deal over the net. Thirtieth deadline already written in a previous agreement that the one they say whether I'll have all the technical details all of the real. Deal on paper and some. Okay the Russian foreign minister also president is that a big deal and out at south and what's the significance. It is a big deal Russian foreign minister Lavrov arrived here yesterday. Took one look at what was going on and it was basically a logjam. And is very typical fashion identity of a couple times he can harm laughed and said to call when you're ready for a deal when he went home to Moscow which is only a three and a half hour flight and then. Today decided to turn around and he came back and that is a sign that. In the next several hours we are likely to see out of this hotel behind me. Where they've been doing the negotiations. But in a separate location they'll have a an announcement of this understanding. And a plan for future negotiations now one more note demands. They've been negotiating its very nice hotel won out announce the deal there because that hotel was the site. Negotiation and treaty in 1923. That broke up the Ottoman Empire the last Islamic empire and it's very bad form to be Ronnie and to be seen signing a deal with the west in the exact same place. That the last deal that was signed with the west by Muslims are ended in the disintegration. And the breakup. And the caring of land out of the Middle East. Along and taken by the colonial powers this is not good for them to do the deal here will go to another building. I all right interesting very fascinating. On if this sort of understanding happens but it's not an official deal what does that mean for sanctions and they stay in place. Or is there more time for all the suit to get work out. You know that is the last sticking point it's an excellent question what happens to the sanctions that the main reason Iran is here. To get out from under these crippling economic sanctions. But if they don't have all of the deal in place that all of those important details not just little tiny technical stuff but the real meat of the agreement. Has not. Have not been hammered out. And all they have is this kind of vague agreement to continue talking shook the sanctions be lifted. Iran is saying yes the Russian foreign minister today said yes sanctions will immediately be lifted the Americans and our European allies are saying. No we have to see some progress. In this agreement from around before we let the sanctions it sounds to me having heard. From a couple of people involved in negotiations that they're gonna suspend some of the sanctions with a snap back provision. In other words with an automatic. Put those sanctions in place again if Iran is caught cheating on this preliminary agreement it bears saying however that Iran has been abiding. To the letter just about. With an agreement that it signed last November on all of these matters nevertheless that is the last piece of the puzzle it sounds like how much of the sanctions will be lifted. All right ABC's Terry Moran thank you so much for joining us. And you can keep up with the story in real time and downloading the ABC news apps storing the story for exclusive updates. On the go and Caroline Costello in New York.

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

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