President Barack Obama announced at the Rose Garden that a historic understanding with Iran has been reached concerning their nuclear program.

"Today, after many months of tough principal diplomacy, we have achieved the framework for that deal," Obama said. "And it is a good deal. A deal that meets our core objectives."

The president said that he has no greater responsibility than the security of the American people and that he's convinced this framework will lead to a comprehensive deal with Iran. 

If the deal is fully implemented, it will prevent Iran from producing a nuclear weapon, Obama remarked. 

"This has been a long time coming," Obama said. "By the time I took office, Iran was operating thousands of centrifuges, which can produce the materials for a nuclear bomb. And they were concealing a covert facility." 

The president said that "we rallied the world to impose the toughest sanctions in history on Iran which had a profound impact on the Iranian economy."

Obama stated that the sanctions imposed on Iran helped to bring the country to the negotiating table with the United States, United Kingdom, France, Germany, Russia, China and the European Union. 

According to the president, Iran has met all of its obligations and eliminated its stockpile of dangerous nuclear material. 

Obama explained that this new agreement would cut off every pathway Iran could take to develop a nuclear weapon. He remarked that Iran has agreed to the "most robust and intrusive inspections" ever negotiated for any nuclear program in history. 

"Of course this deal alone, even if fully implemented, will not end the deep divisions and mistrust between our two countries," Obama explained. "We have a difficult history between us. And our concerns will remain with respect to Iranian behavior so as long as Iran continues its sponsorship of terrorism, its support for proxies who destabilize the Middle East, its threats against America's friends and allies like Israel."

"If Iran cheats, the world will know it," Obama added.

The president said that he plans on reaching out to Israeli Prime Minister Benjamin Netanyahu to defend and explain the deal's framework. He also warned Congress members to not stop the deal. 

"If Congress kills this deal not based on expert analysis and without offering any reasonable alternative, then it's the United States that will be blamed for the failure of diplomacy," Obama said. "International unity will collapse."

Many key details of the agreement will be finalized in the next few months, he said. 

Stay tuned to Fox News throughout the day and primetime for the latest reports and powerful analysis of the historic agreement.