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Although President Obama’s has repeatedly urged Congress to hold off on additional punitive sanctions against Iran until nuclear negotiations conclude, he admitted on Friday that the chance of successfully convincing the regime to give up its quest for nuclear weapons is “less than 50/50.”

A bipartisan group of lawmakers are preparing a bill to impose tougher economic sanctions on the Islamic theocracy if no final deal is reached by June 30 of this year.

But while exhorting lawmakers to reconsider their course, the president conceded that his diplomatic push is likely destined for failure.

“I’ve always said that the chances that we can actually get a diplomatic deal are probably less than 50/50,” he said. “Iran is a regime that is deeply suspicious of the West, deeply suspicious of us. In the past they have surreptitiously, secretly advanced aspects of this program. We have huge difference with them on a whole range of issues.”

The president went on to explain that despite the slim chance of success, an agreement would still be “the best possible outcome” – begging Congress not to scuttle that opportunity and promising a veto if they do.