Nuclear program of Iran
U.S. President Obama reportedly sent a letter dated 20 April 2010 to President Lula of Brazil, in which he outlined a proposal of fuel swap. While expressing skepticism that the Iranians would now be willing to accept such a deal, having provided "no credible explanation" for the previous deal's rejection, President Obama wrote "For us, Iran’s agreement to transfer 1,200 kg of Iran’s low enriched uranium (LEU) out of the country would build confidence and reduce regional tensions by substantially reducing Iran’s LEU stockpile." Turkish Prime Minister Recep Tayyip Erdogan received a similar letter. A senior U.S. official told the "Washington Post" that the letter was a response to Iran's desire to ship out its uranium piecemeal, rather than in a single batch, and that during "multiple conversations" U.S. officials made clear that Iran should also cease 20% enrichment; however, the official stated "there was no president-to-president letter laying out those broader concerns".
Nuclear fuel bank
Countries that already enrich uranium favor the fuel bank because it keeps competitors from entering the market. Some emerging-market countries on the International Atomic Energy Agency Board of Governors have resisted the proposal. “It simply seems a real battlefield,” Iran’s IAEA ambassador, Aliasghar Soltanieh, said. “It’s an issue of trust, and there’s been a lot of fraying of relationships between IAEA states,” said Curtis, Deputy Secretary of Energy under President Bill Clinton. "We think that (Kazakh President) Nursultan Nazarbayev's idea to host a nuclear fuel bank is a very good proposal," Iranian President Mahmoud Ahmadinejad has said. Iran has said it may stop sensitive uranium enrichment if guaranteed a supply of nuclear fuel from abroad, but has also insisted on its right to master the complete nuclear fuel cycle for what it says are peaceful purposes. Mahmoud Ahmadinejad has said Tehran places importance on international nuclear cooperation, including "Iran's presence in the global fuel bank." Iran has resisted sending its low-enriched uranium abroad and has proposed the IAEA supervise uranium enrichment inside the country.