Iran Nuclear Talks Breakdown Despite Progress

Iran will receive $5 Billion back in frozen assets until negotiations start again in March.
6:08 | 11/24/14

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Transcript for Iran Nuclear Talks Breakdown Despite Progress
I am. Today we are closer to a deal that would make the entire world. Especially our allies and partners. Israel and the gulf. Safer. And horse you're. Secretary of state John Kerry as well as other world leaders scrambling to meet a deadline. To stop Iran's nuclear program but those talks broke down today. Thought Vienna Austria where the negotiations. Hello everyone I'm Michelle Franzen in New York secretary Kerry said there was good progress. But serious sticking points remain in the negotiations. We're joined now by cured Rania who has been covering the negotiations. From Vienna. Hear it so a deal wasn't made by today's headline the deadline but it doesn't necessarily mean it's been all for naught where things stand right now. Well what we do is stand right now is that we're pretty much nowhere compared crew were a year ago it was the same place. All that's clear right now that this is going to be much harder to strike a deal in 34 months whenever they finally get back together they set. A new debt by the public some sort of a framework by march and med. By July to promote the you know the domestic politics both in the US and in Iran is just gonna get more complicated in Iran the hardliners are gonna come out say see you could not trust these people. In the US that many in congress are already chomping at the bit to to impose more sanctions on Iran to solid gonna make it more difficult so. In the fact that they weren't able to bridge those final gaps this week it's only going to be more difficult. Think your both sides said that progress was made but that there were those points of disagreement is anybody talking about. What those points are. Well not really you know secretary Kerry came out it is part of a moment ago. Saying that they're not gonna divulge the secrets of that that the status. Of the talks right now he does think that's helpful because it may reveal who gave up watney does and thing that's happened publicly. I'd imagine these details will come out eventually. What we do know is that the big sticking points are still there the three real pillars of any deal and that's how much of the nuclear program would Iraq be allowed to keep. How long would it be restricted for and what kind of sanctions and in what order what those sanctions be lifted. And those three things still about result he says Kerry says that they have made a lot of progress on this key issues. But frankly they clearly weren't able to its to get over that final. And the sanctions of course have had their told taken their told while the deal has been tabled it looks like Iran will be getting about five billion dollars back. In frozen assets during that time how significant is that development. We'll look. That's just a continuation of the deal that was struck last year last year they struck. What was at the time and vision to be an interim deal to get us to where we are right now. Just keep the process going in the process so it was able to freeze certain elements of Iran's. Nuclear program cap the amount at Richmond they can do it in exchange they were getting about. 700 million dollars in frozen assets are running and money that had been frozen by sanctions. Released every month so when you tablet that they have now a seven month extension. And you get 700. Not nearly every month you get up to about five billion dollars. At the time last year analysts said that Iraq was in fact losing more than 700 million dollars every month. In terms of lost oil revenue because they can't sell. Oil to the sanctions. With a bit more depress oil prices that may change but that general argument is still there. That this is really modest. Sanctions relief when you consider that there is about a hundred billion dollars. That are running and money still frozen. And here at while these talks may have broken down today secretary Kerry had high praise for his Iranian counterpart. Here's some of what he had to say at the press conference. An Iranian foreign minister has worked hard. And that he has work diligently has approached his negotiations in good faith. The seriousness. Of purpose. In good faith here it even though an agreement wasn't made today it seems that everyone on the table really. Once to make a deal one person that was really pleased with getting the deal getting pushed back with Israeli prime minister Benjamin not Netanyahu now. Yeah today to say when I was shortly after it was announced that the sanctions that that this deal was gonna be extended that they were gonna come up with another. Agreement today. I graduated a run in the negotiator who looked really sort of crestfallen. I think a lot of them in that delegation really had high hopes for striking a deal this week they felt that they were getting closer but for some reason they weren't able to finish it. Yes the Israelis are very happy about this right now. Netanyahu has said that he's believes that no deal was better then. A bad deal it sort of ironic because you're go to Netanyahu. Was complaining about the deal that was implemented then the one that this intra hybrid ideal that's being extended and today he's actually praising the fact that it's gonna continue. And so what is the timeline now one as the next time that they need and wet while they try to do again. We'll easily going to be in December we don't know where probably the lower level. And the next deadline and for this sort of political framework would be in march 1 and then they hoped had everything wrapped up. By July 1 I think that's pretty vivacious toddler I think that they were admitted as well but look the new congress comes in Republican senate comes in. At the end of January they're going to be making one of the first orders of business to push for new sanctions. All it run because these talks failed this week it's only getting it more difficult. The more time this past. All right cure Roddy thank you for joining us from Vienna. You of course can keep up with this story in real time by downloading the ABC news happen star rain this exclusive. For those exclusive updates. On the go for now you've been watching the national hot spot I'm Michelle Franzen in New York.

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

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