The U.S. president says world powers are looking for a resolution to the nuclear disputes with Iran that respects its sovereignty and its rights as well as its responsibilities.

Barack Obama told reporters at the presidential retreat Camp David, where he is hosting the G8 summit, that the world powers are “firmly committed to continuing with the approach of sanctions and pressure in combination with diplomatic discussions.”

He added: “And our hope is that we can resolve this issue in a peaceful fashion that respects Iran’s sovereignty and its rights in the international community, but also recognizes its responsibilities.”

Ali Akbar Velayati, the Iranian Supreme Leader’s advisor on international affairs, has been quoted as saying: “The Islamic Republic of Iran will not bow down to any pressure and it will decide upon its fate regarding the nuclear issue with complete freedom.”

The West is concerned that Iran may be using its nuclear program as a front for developing nuclear weapons but Iran insists that all its nuclear ambitions are peaceful.

The G5+1 will meet with Iranian nuclear negotiators on March 23 in Baghdad.

In the meantime, the head of the UN’s atomic watchdog will travel to Iran on Sunday in order to set up a mutually acceptable framework for the inspection of Iran’s nuclear facilities.