April 13, 2012. World powers should offer Iran "real incentives" to allow full monitoring of its nuclear program rather than demanding an immediate end to uranium enrichment. The first negotiations in 15 months between Iran and the five permanent members of the United Nations Security Council -- Britain, China, France, Russia and the U.S. -- plus Germany, represent an "urgent" chance to counter the threat of military action. Iran, which has faced four sets of UN Security Council sanctions, has been further squeezed by U.S. and EU financial and energy sanctions. The exact nature of the incentives would be a matter for negotiation in Istanbul, and could include international assistance in developing nuclear energy as well as security guarantees and other measures. Iran stands to benefit financially from its first nuclear reactor, the Russian-built 1,000-megawatt Bushehr plant. It will free up the equivalent of 11 million barrels of oil or 1.8 billion cubic meters of gas per year for export.