I participated in a roundtable at
IDSA on Iran's nuclear imbroglio and India's options along with a bunch of foreign office heavy-weights, which included five former Ambassadors, including the Chair Amb. Arundhati Ghose. This seemed like a good time to discuss the issue since Rowhani is just about to take over in Iran and there are murmurs of movement on
Iran's negotiations with the P5+1 about the nuclear issue.
We discussed various possible scenarios and what India's options were under different scenarios (status quo, a mutually acceptable solution, or Iran becoming a nuclear power). Of these scenarios, I felt that the status quo was not really stable because it was constantly changing. As Iran's enriched uranium stockpiles increase, something will have to give. Moreover, both Iran's stockpile as well as Iran's capacity to increase the stockpile (new centrifuges as well as the number of centrifuges) was increasing with each passing month. Iran has been careful to maintain its quantity of 20% enriched uranium below the Israeli redline of 240 kgs but it is quite close. Iran appears to have deliberately taken steps to not cross that line, down-blending some additional 20% enriched fuel and converting some. (Iran actually produced more than 300 kgs overall). The six tons or so of 5% enriched uranium is probably sufficient for about two bombs, I think, assuming it is enriched further. But that 5% stockpile is growing too, quite rapidly, as the May 2013 IAEA report makes clear. So I sam not sure there is any such as a status quo currently.