Iran yields over UN-drafted nuclear deal

Iran is ready to send its low-grade uranium abroad for further enrichment as requested by the UN in exchange for nuclear fuel enriched to 20%, President Mahmoud Ahmadinejad said in an interview with state Iranian TV.

It comes after Iran had informed the International Atomic Energy Agency (IAEA) last month that it did not accept the terms of the deal to swap enriched uranium for nuclear fuel.

Moreover, it claimed it would be producing its own nuclear fuel enriched to 20% for a research reactor by the end of January if the West did not come to terms and agree to the simultaneous exchange of low-grade fuel for higher-enriched uranium.

Under the UN-drafted deal’s terms, Tehran would transfer about 75% of its stock of low-grade nuclear uranium to Russia and France, where it will be further enriched and returned as nuclear fuel for civil use.

The deal is viewed as a measure to reduce Iran’s capability to produce nuclear weapons. Tehran has denied accusations that it is pursuing the creation of nuclear weapons.

Iran is believed to possess 1.5 tons of low-enriched uranium.