Brazil, Turkey: Iran Nuclear Pact Meets UN Demands

BRASILIA (Dow Jones)–An accord for exchange of low-grade nuclear fuel reached recently among Iran, Brazil and Turkey satisfies requirements for avoiding United Nations security council sanctions against Iran, the leaders of Brazil and Turkey said Thursday.

Following a meeting in the Brazilian capital, Brazilian President Luiz Inacio Lula da Silva and Turkish Prime Minister Recep Tayyip Erdogan said security-council members should end resistance to the accord in the interest of promoting a peaceful resolution to a long-running diplomatic conflict.

“All the deadlines and dates are being met,” Lula said. “We carried out everything they asked for.”

Earlier this month, Brazil and Turkey struck a deal that would allow Iran to swap lightly enriched uranium for more highly enriched supplies. Under the deal, Iran would agree to ship 1,200 kilograms of low-enriched uranium for storage in Turkey and receive fuel rods from 20-percent enriched uranium.

The agreement, while providing low-grade fuel for Iranian medical research, wouldn’t prohibit Iran from maintaining its domestic uranium-enrichment program.

The deal was greeted with skepticism, meanwhile, by the U.S. and other nations, which have insisted on the possibility of U.N. economic sanctions against Iran. The proposed sanctions could including a freeze of Iranian assets, travel bans and unannounced inspections of international cargo shipments to and from Iran.

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