Iran nuclear talks reach draft deal to export enriched uranium

Negotiators in Vienna have produced a draft agreement on exporting Iran's enriched uranium. The countries involved have been given until Friday to ratify the proposals.

Under the draft deal, 1,200kg of low enriched uranium, three-quarters of Iran's stockpile, would be shipped out of the country for processing into fuel to make medical isotopes in a research reactor in Tehran. It would be shipped by the end of the year.

Negotiators were unable to clinch a final agreement after more than two days of talks in the Austrian capital, apparently because the Iranian delegation, led by the ambassador to Vienna, did not have the authority to sign a far-reaching deal about which there was no consensus in Tehran.

Announcing the draft deal, the International Atomic Energy Agency (IAEA) director, Mohamed ElBaradei, said it represented a balanced approach, offering to provide Iran with fuel for making medical isotopes, while building international confidence in Iran's intentions by shipping much of its enriched uranium out of the country.

He said the document would now be sent to the capitals of the negotiating parties – Iran, the US, Russia and France – "for final approval" by Friday.

"I hope people see the big picture," ElBaradei said, adding he was crossing his fingers for a conclusive agreement by the end of the week.

Iran's ambassador to the IAEA, Ali Asghar Soltanieh, said the talks had been successful. He said Tehran would "thoroughly study the text" and he hoped an amicable solution would be reached by Friday.

Soltanieh said Iran had held bilateral talks with the US, hosted by ElBaradei last night, on the possible US provision of advanced equipment for the operation of the Tehran reactor.

There are high stakes riding on the negotiations, as it would involve shipping the bulk – up to three-quarters – of Iran's stockpile of low enriched uranium out of the country and therefore reduce tensions, for a few months at least.