Iran and six major powers, the US, Britain, France, Russia, China and Germany, gave themselves until July 7 to clinch a historic nuclear deal after another deadline to end marathon talks passed Tuesday. Although a framework accord was reached in Lausanne on April 2, the deadline for a final deal has been pushed back several times.

Iranian Foreign Minister Mohammad Javad Zarif returned to Vienna following consultations in Tehran earlier Tuesday. Despite the hopes that instructions from Iran would yield a breakthrough, the P5+1 group of global powers had decided to extend the terms of the interim agreement after US Secretary of State John Kerry met with Zarif for almost two hours following his return.

Many sticking points have been resolved in the talks, but some still remain, according to Iranian officials. While the global powers seek to limit Iran's nuclear capability, Tehran works to win the lifting of the biting international sanctions. Contentious issues include the timing and pace of sanction relief and the role of the International Atomic Energy Agency (IAEA) watchdog, which inspects Iran's declared nuclear sites. The P5+1 powers want the IAEA to be allowed wider inspections including visiting Iran's military bases, which Iranian Supreme Leader Ayatollah Ali Khamenei rejected as a "red line" last week.

The talks have lasted for almost two years, striving to end the 13-year standoff over Iran's nuclear ambitions. At this critical time for a final deal, both Iran and the US need to remember why this deal is so important.

Iran will be the biggest beneficiary if the deal is reached. International sanctions will be eased in phases after Iran scales down its nuclear program to make it virtually impossible to develop a nuclear weapon. An interim deal in 2013 has witnessed $7 billion sanctions relief for Iran after the country agreed to curb its uranium enrichment and to provide better access to the UN to inspect its facilities.

The sanctions, imposed on the country's oil industry, banks and other energy sectors, have long suffocated Iran's economy. The inflation rate has been around 15.5 percent over the last 12 months, according to a report from the Central Bank of Iran. What's more, Iran's nuclear technology and equipment will be legalized after the deal is signed. As long as it is not for military purposes, Iran will have the power and the right to use its nuclear technology. Iran's nuclear facilities, in this way, will also be saved.

The lifting of international sanctions and the legalization of nuclear activities will boost Iran's confidence in dealing with international conflicts, such as the war in Yemen. It is likely that Iran will intervene in the Yemen conflict following reconciliation with world powers including the US. The coalition led by Saudi Arabia, a rival of Iran in the Middle East, have carried out air strikes in Yemen for months.

All sides are working jointly toward the historic deal. The EU is quite cautious about the pace and timing of sanctions relief, while the US wants to resolve the problem as soon as possible. US President Barack Obama pledged to solve Iran's nuclear issues by political means when he came into office and so is eager to reach a deal as a part of his political legacy before his term ends next year. Reconciliation with Iran will bring more US business to the region and encourage more economic cooperation.

We will inevitably see heated discussion about the deal in the next week and more. It takes time to work out a final agreement, and reconciliation can only be achieved gradually.

The article was compiled by Global Times reporter Liu Jianxi based on an interview with Yin Gang, research fellow with the Institute of West Asian and African Studies of the Chinese Academy of Social Sciences. liujianxi@globaltimes.com.cn