"I welcome the progress made between the United States and Russia through our talks in Geneva, which represents an important, concrete step toward the goal of moving Syria's chemical weapons under international control so that they may ultimately be destroyed," Obama said in a statement.
He said the agreement provides the opportunity for the elimination of Syrian chemical weapons in a transparent, expeditious, and verifiable manner, which could end the threat these weapons pose not only to the Syrian people but to the region and the world.
The US President said that the Assad regime must live up to its public commitment.
"The international community expects the Assad regime to live up to its public commitments," Obama said.
The US has demanded that Syria must submit a comprehensive list of its chemical weapons stockpile within a week.
Obama, however, said the United States will continue working with Russia, the United Kingdom, France, the United Nations and others to ensure that this process is verifiable.
"And, if diplomacy fails, the United States remains prepared to act," Obama warned.
The US was earlier lobbying for international support to launch targeted strikes against regime forces after it accused the Syrian government of killing 1,400 of Syrians in chemical weapons attack on Damascus on Aug 21.
"Following the Assad regime's use of chemical weapons to kill more than 1,000 men, women, and children on August 21, I decided that the United States must take action to deter the Syrian regime from using chemical weapons, degrade their ability to use them, and make clear to the world that we will not tolerate their use," Obama said in his statement.
"In part because of the credible threat of U.S. military force, we now have the opportunity to achieve our objectives through diplomacy," the US President said.
U.S. Secretary of State John Kerry and Russian Foreign Minister Sergey Lavrov announced the agreement on Saturday after holding talks in Geneva.
"We have reached a shared assessment of the amount and type of chemical weapons possessed by the Assad regime, and we are committed to the rapid assumption of control by the international community of those weapons," Kerry said while outlining the steps that the US and Russia have agreed to take under the framework.
"The United States and Russia are committed to the elimination of Syrian chemical weapons in the soonest and safest manner. We agreed that Syria must submit, within a week - not in 30 days, but in one week - a comprehensive listing. And additional details will be addressed regarding that in the coming days," he said.
"We have agreed to destroy all chemical weapons, including the possibility of removing weapons for destruction outside of Syria. We have also reached a side agreement on methodology," Kerry said.
Syrian President Bashar al-Assad had initially denied the charges of the Aug 21 attack.
Bashar al-Assad earlier said he is ready to place chemical weapons under international control.
He said he had taken the decision due to Russia's proposal and not for the threat of the US intervention.
--IBNS (Posted on 15-09-2013)