Iran is reviewing proposals offered by the European Union aimed at ending a long-running standoff over its nuclear program.

The proposals were delivered Friday by the ambassadors of Britain, France and Germany.  An Iranian foreign ministry spokesman said his country would study the proposals for one or two days and issue a response "soon."

The European plan calls on Iran to end uranium conversion and enrichment, which are suspected to be part of a nuclear weapons program.

In exchange, the EU pledges Iran fuel, trade and investment as well as political and technological cooperation.

Iran insists its nuclear program is used for the peaceful purpose of energy generation and has said it will soon resume uranium processing. 

French Foreign Minister Philippe Douste-Blazy said Friday he hopes Iran will hear the voice of reason and not resume nuclear activities.

The International Atomic Energy Agency will meet Tuesday to discuss Iran.

Some information for this story provided by AP and Reuters.