An outline deal agreed in Switzerland yesterday paves the way for Tehran to curtail its nuclear activity in exchange for relief from punishing economic sanctions.
"It doesn't roll back Iran's nuclear program," Netanyahu told CNN, one of several US networks he appeared on to slam the deal.
"It keeps a vast nuclear infrastructure in place. Not a single centrifuge is destroyed. Not a single nuclear facility is shut down, including the underground facilities that they built illicitly. Thousands of centrifuges will keep spinning enriching uranium. That's a bad deal."
"If a country that vows to annihilate us and is working every day with conventional means and unconventional means to achieve that end, if that country has a deal that paves its way to nuclear weapons, many nuclear weapons, it endangers our survival," the prime minister said.
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"I'll tell you what else will happen," he added. "I think it will also spark an arms race with the Sunni states," a reference to Gulf monarchies.
Iran and Saudi Arabia, the foremost Shiite and Sunni Muslim powers in the Middle East, have had troubled relations in recent years after taking different sides in the Syrian civil war.
Netanyahu told ABC News that the money that will flow back into Iran as sanctions ease will not be used to help the population.
"It lifts the sanctions on them fairly quickly and enables them to get billions of dollars into their coffers," he said.