The deal calls on Tehran to ship about 1,000 kilograms of its low-enriched uranium, as well as its entire 30 kilogram stockpile of 20% enriched uranium, to a safe location.
In return, the report said, France and Russia will supply ready-made fuel rods for the medical isotope reactor for which Iran says it has been enriching uranium to 20% – a level which halves the time needed to manufacture weapons-grade material.
The United States has also been involved in the negotiations, which began after a meeting between Turkish Foreign Minister Ahmed Davutoglu and Iranian officials in Bahrain earlier this month.
"We think the deal is doable," an official involved in the negotiations said, "but there's still a lot of detail to be worked through."
Diplomatic sources reported that Turkish and Iranian negotiators have met several times to discuss the contours of the deal, which they hope to bring to the table next month at a meeting with the five permanent members of the United Nations Security Council and Germany.
Despite its involvement in the talks, Washington is not waiting idly for developments. The New York Times reported earlier this week that the US has begun working on new sanctions against Iran.
The report came after the renewal of nuclear talks in Geneva earlier this month. US Secretary of State Hillary Clinton defined the meetings as "a good start", although the sides failed to reach any agreements. The talks are expected to resume in Turkey next month.
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