US President Donald Trump hailed the Iran deal as a boost to global security and an opportunity to reset relations with Tehran at the G7 summit in France.
Trump said negotiations on key aspects of the agreement would continue over the next 60 days, and the memorandum of understanding would likely be made public after it is signed on Friday.
The Iran deal is expected to bring a lot of success to the world, with oil prices plummeting and the stock market shooting up, according to Trump.
French President Emmanuel Macron congratulated Trump on the breakthrough, saying it's a very important matter for peace of the whole world.
Leaders at the G7 summit are also expected to discuss efforts to clear mines from the Strait of Hormuz, with Britain and France expressing interest in supporting demining operations once the fighting pauses.