Obama: Modest relief for Iran if it halts activity

President Barack Obama said Thursday that if Iran halts advances and reverses parts of its nuclear program, the United States would offer "modest relief" to ease the economic squeeze on Tehran.

But he said core sanctions against Iran would remain in place and that if Iran's leaders back out of a deal "we can crank that dial back up." Such measures include penalties that have crippled Tehran's oil exports. (AP)