As a result of the negotiations in Lausanne, the EU administration has decided to lift the sanctions against Iran, EU Foreign Policy Chief Federica Mogherini said on Thursday.

Mogherini told a press conference in Lausanne the EU will put an end to all economic and financial sanctions related to the nuclear issue.

Mogherini said the U.S. will also stop all secondary economic and financial sanctions related to the nuclear issue simultaneously with the confirmation by the IAEA of the fulfillment by Iran of its key obligations in the nuclear sphere.

The outcome of the Lausanne talks was also hailed by U.S. President Barack Obama.

Obama told a news conference in Washington that a planned comprehensive agreement between the P5+1 and Iran would prevent any secret nuclear activities by Tehran because they would be exposed, and that Iran's nuclear activities would be followed by an unprecedentedly effective monitoring system.

The U.S. leader warned that the definitive agreement would take a lot of work to achieve.

He said his administration was willing to lift some of its sanctions against Iran but would be ready to re-impose them if it considered them necessary.