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Source: http://www.reuters.com/article/2013/11/07/us-iran-nuclear-talks-idUSBRE9A519L20131107
Powers Seek "First-Step" Nuclear Deal with Iran in Geneva Talks
(Reuters) Justyna Pawlak and Fredrik Dahl - A senior aide to a U.S. senator briefed by the White House and State Department said Washington would offer to work with Iran in a six-month confidence-building period. During that time, Washington would offer Tehran relaxed restrictions on Iran's funds held in overseas accounts. The Obama administration could also ease sanctions on trade in gold and petrochemicals. In exchange, Iran would stop enriching uranium to 20% and convert its existing stockpile of 20% uranium to an oxide form suitable for processing into reactor fuel and take other measures to slow the program. The aide said the concessions being sought would "neither freeze nor set back" Iran's nuclear program and that the Senate would have to act immediately to impose further sanctions on Iran.