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Aug. 31 is the deadline set by the United Nations Security Council for Iran to suspend its nuclear program and abide by its obligations under the Nuclear Non-Proliferation Treaty. If Iran persists, the U.N. could apply economic sanctions.

On Tuesday, Iran indicated that it wants to end the standoff, but even as Tehran insisted it isn’t trying to buy time, we can’t help but wonder, given its record, whether this is just another stalling tactic.

Iran delivered its statement to diplomats in Tehran even as it continued to enrich uranium, bar U.N. inspectors from an underground nuclear installation and use Hezbollah as an agent against Israel.

Iran’s nuclear negotiator, Ali Larijani, said Tuesday that Iran is ready for “serious talks,” but Ayatollah Ali Khamenei, who is said to have the last word on key policy issues, was quoted as saying Iran would continue its nuclear activities. President Mahmoud Ahmadinejad has repeatedly insisted that Iran has an “inalienable” right to nuclear technology.

Although details of Iran’s latest proposal were not made public, John Bolton, U.S. ambassador to the United Nations, said officials were studying it carefully. He also said that the U.N. will deal separately with Iran on the subject of disarming Hezbollah militias in Lebanon.

We hope the five permanent members of the U.N. Security Council (the United States, Britain, China, France and Russia) are prepared to act decisively if Iran fails to heed its obligations this time around.

The five nations, along with Germany, have offered Iran valuable financial incentives in exchange for suspending its nuclear activities. But on the issue of sanctions – which have have not been spelled out publicly – the United States needs to tread cautiously, since Russia and China have been reluctant to punish Iran, and European economies could suffer if Iran responded by cutting off oil. (Iran holds the world’s second-largest oil reserves and is the fourth-largest producer of crude).

It’s important that the fragile alliance forged by the six nations over the Iran nuclear issue not be split in the process of disciplining Iran. If China and Russia view Iran’s latest statement as showing serious interest in negotiations, they may very well want to engage in another round of discussions before entertaining any serious sanctions.

We favor a diplomatic solution, but Iran cannot be allowed to drag its feet while making progress in building a nuclear weapons capability. If a U.N. deadline is to have any meaning, Iran must take positive steps or face sanctions.

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