Hague plea to Israel over Iran

President Barack Obama has shrugged off criticism of the deal to limit Iran's nuclear development - saying it's good for American security.

The deal has been criticised by America's Middle East allies Israel and Saudi Arabia.

ITV News Diplomatic Correspondent John Ray reports:

Foreign Secretary William Hague said the nuclear deal with Iran does not mean the UK embassy in Tehran will reopen.

"We have to be clear with Iran that an embassy, if we reopen it, would be able to operate properly with all the normal functions. We will take this in a step by step way," he said.

Foreign Secretary William Hague has discouraged Israel from taking any steps to undermine the interim nuclear deal with Iran.

"We would discourage anybody in the world, including Israel, from taking any steps that would undermine this agreement and we will make that very clear to all concerned," Hague told parliament.

Israel's Prime Minister Benjamin Netanyahu has called the nuclear deal with Iran "an historic mistake" and said it has "made the world a much more dangerous place".

Foreign Secretary William Hague says core sanctions on Iran will remain in place. These include sanctions against the Iranian Central Bank, US trade restrictions, all UN Security Council sanctions and restricted access to its foreign assets.

Most importantly, the EU ban on Iran's crude oil will also remain in place. For Iran, this means loss of sales worth about $4 billion (£2.5 billion) per month.

William Hague is speaking in the House of Commons on the deal reached by the international community with Iran over its nuclear ambitions.

The Foreign Secretary has listed commitments made by Iran, saying these will prevent Iran from using its program to build nuclear weapons. In return some of the international sanctions will be suspended.

Read more: Can the Iran nuclear deal become a lasting accord?

A deal struck after lengthy negotiations in Geneva, Switzerland, commits Iran to curb its nuclear activities for six months in exchange for limited and gradual relief from some sanctions, including access to £2.5 billion ($4.2 billion) from oil sales.

Foreign Secretary William Hague will address MPs in the House of Commons today on the deal reached by the international community with Iran over its nuclear ambitions.

A deal struck after lengthy negotiations in Geneva, Switzerland, commits Iran to curb its nuclear activities for six months in exchange for limited and gradual relief from some sanctions, including access to £2.5 billion ($4.2 billion) from oil sales.

Israel's Benjamin Netanyahu called the agreement "an historic mistake", but David Cameron hailed the deal as an "important first step".

Read: Can the Iran nuclear deal become a lasting accord?

Prominent Iranian-Americans have praised the Iranian nuclear deal as a significant first step in what they hope will be more harmonious relations between Iran and the international community.

Read: It's too early to call Iran nuclear deal 'historic'

Oil prices fell sharply today after world powers struck a landmark deal with Iran to curb its nuclear programme in exchange for an easing of international sanctions.

While Iran will not be allowed to increase its oil sales for six months, any easing of Middle East tensions tends to lead to lower crude prices.

Read: Can the Iran nuclear deal become a lasting accord?

Israel's Prime Minister Benjamin Netanyahu has called the nuclear deal with Iran "an historic mistake" and said it has "made the world a much more dangerous place".

President Obama telephoned Mr Netanyahu this evening to say the US would remain committed to Israel.

Warning: ITV News' Middle East Correspondent Geraint Vincent's report contains flash photography:

Read: Iran reaches landmark nuclear deal with world powers

Read: It's too early to call Iran nuclear deal 'historic'

Read: Can the Iran deal become a lasting accord?