Are We on the Verge of an Historic Deal With Iran?

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Nov. 8 (Bloomberg) -- World powers are sending their top diplomats to Geneva for an unscheduled third day of talks with Iran, signaling a possible agreement to break the decade-long stalemate over the Islamic republic’s nuclear program. Indira Lakshmanan reports on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

Historic deal?

It's certainly what it seems like when you have for the first time in what has been 11 years of deadlock over this program and years of on-again, off-again diplomatic push, you have all of the diplomatic ministers from the p5+1 countries on the scene.

It looks like they are on the verge of a major bank -- a breakthrough.

We saw a meeting go on for about six hours between john kerry, his iranian counterpart, and they went back to the hotel and did not want to make comments.

We are not there yet.

I will say -- go ahead.

I was just going to make the one point, one person said to us our story, foreign ministers do not come to town to be embarrassed or it a come thinking that they are going to have a deal signed.

Benjamin netanyahu is not on board with the latest nomadic book -- diplomatic push.

Why not?

Kerry made a stop in tel aviv to calm down the prime minister.

He came out and announced that as a very bad deal.

The feeling is that any kind of a deal would lead -- that would leave iran with a capability of uranium in richmond is a historic mistake.

It will still allow them to have a nuclear weapons program.

There uranium could be enriched to further bomb-grade fuel.

People negotiating the deal feel they don't have a choice, that they are already enriching it.

They are going to keep enriching it as long as it does so for peaceful purposes.

What type of concessions with the international community be seeking from iran?

If those concessions leave the islamic republic's nuclear program intact, what is the point?

You are asking the million dollar question.

What we think they are trying to seek from them is a capping of the program where it is right now so that iran would not use any more centrifuges, would not install more.

Only half of them are in use to enrich uranium.

It would not increase their stockpile.

They would cap their enrichment at a low-level that can be used for civilian purposes for energy.

Those are some of the concessions we think they are talking about.

It's keep in mind -- what they are trying to put together this week and is in interim, first step deal worth a copperheads of deal.

This would not be a whole thing.

Just a way to try to put the brakes on it from now.

What is the significance of russian -- russia and china joining these talks?

Hugely significant.

The fact that john kerry got on a plane and averted himself from other travels and came here means he felt he could come and really get down to brass tacks and help negotiate the end of the deal.

The fact that the chinese and russians are coming along with the french, germans, and british, means they want to be part of it.

They want to sign on to whatever the deal is and help work through the final problem.

It is not necessarily true that we will get a deal this weekend.

It is something that oil markets are keeping an oil -- ion two because they are thinking about the long-term, whether there might be a lifting of oil sanctions on iran.

Indira, thank you.

This text has been automatically generated. It may not be 100% accurate.

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