The deal would see Iran's low enriched uranium sent to Russia for further enrichment. Here, it would also be converted into fuel and returned for use in a Tehran reactor monitored by the International Atomic Energy Agency (IAEA).

"We have considered this proposal, we have some technical and economic considerations on that", said Iranian Foreign Minister Manouchehr Mottaki. He had met reporters during a visit to Kuala Lumpur, Malaysia.

"Two days ago we passed our views and observations to the IAEA, so it is possible to establish a technical commission to review and reconsider all these issues," he said, speaking through a translator.

Mottaki, who was attending a conference of the developing Muslim nations of the world, did not elaborate on the details of the quoted technical commission. Still, he affirmed that Iran would "continue enrichment" for fuelling nuclear power stations.