VIENNA , Austria ( CNN ) -- Iran has accepted a draft agreement that calls for some uranium produced in Iran to be sent abroad for further enrichment , an Iranian diplomat said Wednesday . Mohamed ElBaradei says the agreement is a `` balanced '' approach to the problem . `` In principle we have in fact accepted this offer for this Tehran ... reactor in spite of the fact that we are capable of producing the fuel , '' Ali Asghar Soltanieh told CNN 's Matthew Chance in Vienna . `` But we decided to welcome this offer in order not only to show our transparency and cooperation but prove that all activities are for exclusively peaceful purposes . '' Soltanieh is Iran 's ambassador to the United Nations ' nuclear watchdog , the International Atomic Energy Agency . He spoke shortly after concluding three days of discussions at the IAEA 's headquarters here with representatives from the U.N. , France , Russia , and the United States . The draft agreement is `` the summary of the discussions that we have had '' since Monday , which Soltanieh described as `` elaborating on all aspects of this project for fuel for Tehran 's reactor , '' Soltanieh said . He and the other representatives from France , Russia , and the United States are taking the draft agreement to their respective governments for approval . IAEA chief Mohamed ElBaradei has given all the representatives until Friday to say whether they will sign the agreement , which ElBaradei described as `` a balanced approach to the problem . '' Soltanieh would not elaborate on the draft agreement until it is finalized , but he told CNN that Iran plans to continue its uranium enrichment program at its Bushehr nuclear power plant . The delegates hammered out the details of a tentative deal reached in early October which calls for low-enriched uranium produced in Iran to be sent abroad for further enrichment and then returned for use in medical research and treatment . Tehran says its nuclear program is intended solely for peaceful purposes . But many in the West believe Iran is pursuing nuclear weapons capabilities . The Obama administration is working on a substantial sanctions package against Iran in case current diplomatic efforts to curb its nuclear program fail , top officials told Congress earlier this month . From CNN 's Matthew Chance in Vienna , Austria .
Iranian nuclear envoy : Iran accepts uranium processing draft deal `` in principle '' Three days of talks on Iran 's nuclear program wrap up in Vienna . IAEA chief says draft deal is `` balanced approach to the problem '' Tehran insists its nuclear program is for peaceful purposes .