Talks result in Iran deciding to freeze nuclear program

A TEMPORARY freeze on Iran's nuclear program has been successfully negotiated for the first time in more than a decade.

Following talks with the US and five other world powers on Sunday, Iran reportedly agreed to halt or "scale back" most of it's nuclear program at Tehran.

Extensive inspections will be allowed so "international community can verify whether Iran is keeping its commitments and work at the country's plutonium reactor will be put on hold.

Speaking to reporters in Geneva on Sunday, US President Barack Obama conceded that in return, Iran would be allowed a "portion" of revenue they had been denied through sanctions but said the "substantial limitations" placed on the country, would help prevent Iran from building a nuclear weapon.