Iran: Ready for deal, on own terms
Iranian foreign minister says another round of sanction would be ineffective, illegal
Iran is ready to exchange the bulk of its stockpile of enriched uranium for nuclear fuel rods - as proposed by the UN - but according to its own mechanisms and timetable, the foreign minister said Saturday.
The minister's remarks come just days before an expected meeting between the US and allies to discuss new sanctions against Iran over its nuclear program. The offer, however, falls far short of the conditions set by the international community.
However, Manochehr Mottaki said that another round of sanctions will have no effect on his country, and that such move would be illegal.
Speaking to reporters at a regional security conference in Bahrain, Manochehr Mottaki said Iran agreed with a UN deal proposed in October in which up to 2,600 pounds (1,200 kilograms) of its uranium would be exchanged for fuel rods to power its research reactor.
"We accepted the proposal in principle," he said through a translator. "We suggested in the first phase we give you 400 kilograms of 3.5 percent enriched uranium and you give us the equivalent in 20 percent uranium."
Associated Press and AFP contributed to the story
