US and P5+1 reach Lausanne framework agreement with Iran on nuclear program limits

After eight days of marathon talks in Lausanne, Switzerland, Iran and the P5+1 announce a political framework for a comprehensive nuclear agreement. Iran tentatively agrees to reduce its centrifuge count by two-thirds, limit uranium enrichment to 3.67% for 15 years, and accept expanded IAEA inspections. In exchange, the US and its partners agree to lift nuclear-related sanctions after Iran demonstrates compliance. Final agreement is set for July 1, 2015.