In an exclusive interview with IPS, Zarif described an Iranian plan, presented at the meetings with the P5+1 last month in Vienna, that would exclude weapons grade enrichment. "The parameters of the proposal would be set to continue Iran's enrichment but to provide the necessary guarantees that it would not enrich to anything over five percent," said Zarif.

The plan would involve the immediate conversion of each batch of low-enriched uranium to an oxide powder that would then be used to make fuel assemblies for Iran's Bushehr reactor, according to Zarif.

Russia is currently converting oxide powder to fuel assemblies for Bushehr, but Zarif told IPS that by the time the contract with Russia expires in 2021, "we will certainly have the capability to convert the oxide to fuel rods domestically."