(Tehran) -- Iran says it is looking at a UN draft agreement deadline requiring it to reduce its nuclear fuel stockpile in a "favorable light." The International Atomic Energy Agency (IAEA) reports the Islamist nation says it still needs until next week to provide its response.

The deadline for signing on to the agreement is today.

Tehran has stated its answer will be given to IAEA chief Mohamed ElBaradei who says approval of the agreement "will signal a new era of cooperation." The Islamist nation has challenged the deal, saying it wants to buy nuclear fuel abroad.

The UN draft agreement has the backing of the U.S., Russia and France.

　

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