Kerry says first-step agreement with Iran provides limited, reversible relief

The first-step agreement with Iran does not lift the current architecture of U.S. sanctions against Iran, providing only limited, reversible relief, U.S. Secretary of State John Kerry said in a recent statement.

Kerry made the remarks in an effort to clear up misinformation on the landmark first-step agreement that temporarily halts Iran's nuclear program. He said the U.S. banking and oil sanctions will stay in place against Iran, as well the core sanctions on financial services. In return for Iran abiding by the terms of the agreement, it will get a small amount of relief.

"Iran will be allowed to repatriate about $4.2 billion or so in oil revenues and will be allowed to export about $2.5 billion in petrochemicals and vehicles," Kerry said. "So believe me, when I say this relief is limited and reversible, I mean it."

Kerry said the Obama Administration drove a hard bargain to achieve its goal of keeping Iran from acquiring a nuclear weapon. Thanks to the difficult negotiations, He said the U.S. is taking an important first step towards guaranteeing Iran does not obtain nuclear weapons capability.

Kerry said the U.S. will now immediately go to work on securing a comprehensive agreement to stop the Iranian nuclear crisis.

"We are immediately going to work on the final agreement, the comprehensive agreement, and our diplomats and our experts will be at the negotiating table very soon again working to achieve this final comprehensive agreement that addresses all of our concerns and our friends: Israel, Saudi Arabia, the Arab Emirates, others," Kerry said. "The whole world has an interest in making sure that this is a peaceful program."