Iran has agreed to stop producing uranium enriched close to the level required for nuclear weapons, a sign the Islamic Republic may be ready to resolve a standoff with the West over its atomic activities.

Iran’s pledge to cease stockpiling uranium enriched close to the levels needed for nuclear weapons was made unconditionally and is the first time the nation has made such a proposal, according to the United Nations atomic watchdog.

During International Atomic Energy Agency chief Rafael Grossi's trip to Iran last week, "the possibility of Iran not further expanding its stockpile of uranium enriched up to 60%