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Iran Mulls Atomic Incentives

Iran has so far decided to consider a proposal put forth by the US to curb atomic development. The Islamic republic has been moving ahead with an atomic program which it says is for civilian reasons but the rest of the world believes it`s for weapons.

The European Union foreign policy chief, Javier Solana traveled to Tehran late on Monday to deliver the incentives to Iran`s chief nuclear negotiator early Tuesday. Larijani says, "The proposals had some positive steps in them and some ambiguities which should be removed."

On Tuesday, oil prices, which had skyrocketed following the dispute, fell by 33 cents following Larijani`s comments. Iran is a major oil producer, and once threatened to fight back with its oil arsenal if it came under attack from the U.S.