Iran will weigh a Russian proposal calling for a halt to an expansion of the country's nuclear program as a way to avert fresh sanctions, one of its envoys said Wednesday, Bloomberg News reported on its website.

"We need to study this proposal and to establish on what basis it has been made," Ambassador Mahmoud-Reza Sajjadi told Bloomberg in an interview in Moscow .

Under a plan unveiled last week by Moscow , Iran could avoid a European Union ban on its crude oil set to come into effect in July. Sajjadi also said Iran might be willing to ratify the so-called Additional Protocol, which calls for more thorough inspection of its facilities, as part of a wider settlement.

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