After a long 12-year standoff and 18 days of nail-biting negotiation, the United States has finally reached a diplomatic agreement with Iran regarding nuclear weapons.

Under the new agreement, Iran must do the following:

– Get rid of 98 percent of its enriched uranium stores

– Remove two thirds of its installed centrifuges and store them under international supervision.

– Allow the Atomic Energy Agency to access and inspect its nuclear facilities

– Acknowledge that if these terms are violated, sanctions will be reinstated

The Iran nuclear deal is a recipe for a smaller nuclear program that can’t manufacture or stockpile nuclear weapons due to limited resources. In return, world powers such as the United States will lift their economic sanctions off Iranian trade.

While the deal has been approved by several heads of state, the United States cannot formally ratify the treaty until it filters through Congress. However, President Obama said in a statement Tuesday morning that he would veto any attempt to stop the deal from moving forward. Considering the amount of vetoes Obama has issued as president, this is a serious threat indeed.

Watch the president’s announcement below.