Here's a deal: the US offers Iran a promise not to attack, as it did with Cuba in 1962 and offers to ease some long-term sanctions (in place since the fall of the Shah). Moreover, the Iranian effort to join the WTO is allowed to move forward without US objection.
In turn, Iran promises to end the most worrisome elements of its nuclear program (enrichment) and assures ongoing, intrusive access by the IAEA.
Sanctions are going to take time and won't work given Iran's oil export revenues -- and the western need for oil imports.
A military attack is quite risky and likely a very bad idea.
Now, how long will this take?
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