Iran has agreed to stop producing uranium enriched close to the level required for nuclear weapons, according to United Nations inspectors.

Iran has taken steps to halt the expansion of its stockpile of highly enriched uranium, according to a confidential report by the International Atomic Energy Agency (IAEA).The offer is conditional on western powers abandoning their push for a resolution against Iran at this week's meeting of the IAEA’s 35-nation board of governors over its lack of co-operation with the UN nuclear watchdog.

Iran has agreed to stop producing uranium enriched close to the level required for nuclear weapons, a sign the Islamic Republic may be ready to resolve a standoff with the West over its atomic activities.

Iran has defied international demands to rein in its nuclear program and has increased its stockpile of uranium enriched to near weapons-grade levels, according to a confidential report by the United Nations’ nuclear watchdog seen Tuesday by The Associated Press.

Iran is moving to stop producing enriched uranium at levels close to what is required for nuclear weapons now that it has stockpiled nearly 32 times the limit set in the 2015 nuclear deal. A 12-page report from the International Atomic Energy Agency that was reviewed by Bloomberg said that Iran has taken steps “aimed at stopping the increase of its stockpile.