Deadline for nuclear scale back extended

The US and the five other countries involved agree to extend the July 20th deadline by four months to give Iran more time to dismantle parts of its nuclear-development program. The extension was expected. President Obama says:

It’s clear to me that we have made real progress in several areas and that we have a credible way forward. But as we approach a deadline … there are still some significant gaps between the international community and Iran, and we have more work to do.

During the extension period, Iran will continue to have access to $2.8 billion in assets previously restricted by the U.S., but sanctions against its oil sales and other assets will remain frozen.  John Kerry says:

Let me be clear, Iran will not get any more money during these four months than it did during the last six months.