The generous offer made by the E3+3 in June 2006, and annexed to UN Security Council Resolution (UNSCR) 1747, includes active support for the building of new light water power reactors in Iran and the provision of legally binding multi-layered fuel assurances to Iran. These would be based on: participation as a partner in an international facility in Russia to provide enrichment services; establishment on commercial terms of a buffer stock to hold a reserve of five years' supply of nuclear fuel dedicated to Iran; and development with the International Atomic Energy Agency (IAEA) of a standing multilateral mechanism for reliable access to nuclear fuel, based on ideas currently being considered by the IAEA and Board of Governors.
But before negotiations can begin Iran needs to suspend all enrichment-related and reprocessing activities, as required by three successive UNSCRs.