17 April 2010 - 19:30

Iranian President Mahmoud Ahmadinejad said on Tuesday that world powers would regret any further sanctions on Tehran, while stressing the Islamic republic was still ready to solve the issue diplomatically.

Iranian President Mahmoud Ahmadinejad said on Tuesday that world powers would regret any further sanctions on Tehran, while stressing the Islamic republic was still ready to solve the issue diplomatically.

"If anybody seeks to create problems for Iran, our response will not be like before," Ahmadinejad told a news conference in the Tehran.

"Something in response will be done which will make them (the world powers) regret" their move, the Iranian president said.

But Ahmadinejad said that negotiations over a UN-drafted nuclear fuel exchange were "not closed yet," and expressed readiness to buy the material even from its arch-foe the United States.

He insisted that the exchange had to be "simultaneous".

"The proposal for the fuel exchange is not closed yet. We have announced that we will exchange within a just framework," Ahmadinejad said.

"We are ready for an exchange even with the United States. The US can come and give us their 20 percent fuel and we will pay them if they want, or we can give them 3.5 percent fuel.

"But the swap should take place simultaneously and we will put our fuel under the supervision of the (IAEA) agency in Iran," he added.

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