Here comes President Obama's statement on the Iran nuclear deal

President Barack Obama is about to give a speech reacting to the framework for a nuclear deal with Iran that was reached by negotiators on Thursday.

Obama will deliver a statement from the Rose Garden at 2:15 p.m.

The president's statement comes hours after negotiators in Lausanne, Switzerland announced that they had reached a framework for a deal that would curb Tehran's ability to produce a nuclear weapon in exchange for the US and other powers rolling back sanctions against Iran. The negotiators originally set a deadline of March 31 for a political framework agreement, but they extended the talks and have spent much of the week engaged in late night negotiations. Any deal must be signed by June 30, which was the ultimate deadline established by the deal that allowed for the talks.

As part of the deal, the US and its partners agreed to immediately lift all sanctions on Iran's banking and oil sectors once a comprehensive agreement is signed, according to Iranian foreign minister Javad Zarif.

The deal will reportedly last 10 years and will also require Iran to dilute most of its enriched uranium or ship it to a foreign country, according to Reuters.

Israeli Prime Minister Benjamin Netanyahu has been a staunch critic of the deal, which he has said will help Iran's efforts to obtain a nuclear weapon.

This post will be continuously updated during the president's remarks.