On April 20th Obama wrote a letter to President Lula da Silva of Brasil in which he voiced his skepticism about Iran's tractability and outlined what might be acceptable to the US regarding Iran low enriched uranium (LEU) and any "fuel swap" proposal in which Iran would exchange LEU for 20% enriched fuel rods for their medical purposes. You can see the undisputed contents of this letter here: Obama to Lula. I strongly suggest reading it.
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