(VOVworld) – Iran and the P5+1 have extended talks for a comprehensive agreement on Iran's nuclear program until July, 2015, after failing to meet a Monday deadline.

Iran and six powers extend nuclear talks to 2015 [Photo:Reuters]

British Foreign Secretary Philip Hammond said there has been significant progress in the negotiations, which will resume next month, adding that Iran will receive access to 700 million USD of previously frozen assets.

Israeli Prime Minister Benjamin Netanyahu on Monday welcomed the failure of Iran and the P5+1 to reach an agreement by the deadline, saying the deal Iran was pushing for was terrible and would have left Iran with the ability to enrich uranium for an atom bomb while removing the sanctions. Russian Foreign Minister Sergei Lavrov expressed his wish that both sides will agree on the basic outline of a final document in the next three or four months.