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Iran’s foreign minister said it is ready to negotiate a package of economic incentives in exchange for agreements to curb its nuclear program. Britain is pushing the European Union to adopt stricter sanctions against Iran. President Ahmadinejad said the West failed to stop Iran from enriching uranium.

Iran has withdrawn an estimated $75 billion from banks in Europe to dodge potential sanctions. Britain said the assets of Iran’s Bank Melli would be frozen. Iran may have obtained advanced nuclear warhead designs from the AQ Khan network.

Iran refuses to back down from the development of its nuclear program as the West threatens more sanctions. Twenty-eight IRGC soldiers were kidnapped by “militants” in a region of Sistan-Baluchistan province on the Pakistani border. Pakistan has turned over four Jundallah fighters to Iran.

President Mahmoud Ahmadinejad ordered banks to move assets to dodge potential EU sanctions. Ayatollah Ali Khamenei said the US presence in Iraq is Iraq’s primary problem. Iran’s representative to OPEC said he expects oil to approach $150 a barrel.