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Iran Dismisses US, European Incentives

Iran has rejected U.S. and European economic incentives offered in exchange for abandoning its nuclear enrichment activities, saying it will not bend to external pressure.

The Iranian response comes a day after Washington said it would drop its objections to Iran's application to the World Trade Organization, WTO, and to the licensing of spare parts for Iranian civilian aircraft.

A foreign ministry spokesman dismissed the offer Saturday saying restrictions against Tehran's right to buy spare parts and join the WTO should never have been imposed in the first place.

In a major policy shift, the Bush administration agreed to back European incentives, after Britain, France and Germany said they would support U.S. efforts to bring Iran before the U.N. Security Council if nuclear talks fail.

Some information for this story provided by AP and Reuters.