There was no nuclear breakthrough for Iran after deadlock stifled negotiations for a second time this year. Iran and six global leaders failed to reach a deal in Austria over Tehran's nuclear agreement, missing Monday's deadline. The nuclear talks will now be extended seven months in the hope of reaching a historic deal. The Joint Plan of Action, an interim deal agreed 6 years ago in Geneva, will be upheld through 2015. Tehran will still be able to access around $700 million per month in sanction relief during the extended negotiating period. A nuclear deal with Iran could present an opportunity to ease economic sanctions on the region. A collapse in negotiations, on the other hand, would encourage Iran to become a threshold nuclear weapons state.