Iran says it will continue processing uranium, despite European threats to seek U.N. sanctions over Tehran's suspected push to develop nuclear weapons.

Speaking Sunday, Foreign Minister Manouchehr Mottaki said any attempt to seek sanctions will create a no-win situation that will have consequences. Tehran insists its nuclear intentions are peaceful.  

Iran resumed uranium conversion work last month, triggering the collapse of talks with European negotiators offering financial rewards if Iran promised to abandon its nuclear work.

Iran has said President Mahmoud Ahmadinejad will suggest ways to resolve the crisis when he arrives in New York for a global summit set for Wednesday. 

The 35-member board of the International Atomic Energy Agency convenes next week in Vienna, where it could hear European or U.S. proposals to send the Iran matter to the U.N. Security Council.

Some information for this story provided by AP and Reuters.