The new talks could include some relief from sanctions as well as incentives for Iran to limit the level of enrichment, The Guardian reported Thursday.
What will be offered depends in large part on the outcome of the U.S. election. The negotiating plan assumes that Barack Obama wins a second term or that Mitt Romney wins and allows negotiations to continue unchanged. The plan could be stalled for months if Romney wins and decides to have a full-scale review of the diplomatic effort.
Iran's chief negotiator, Saeed Jalili, said in June there was no point in continuing the talks until the next U.S. president was decided.
Western diplomats say a window of opportunity exists between the election and next spring. After that, Iranian politicians will be involved in the country's own presidential elections in June.
"Currently we are stalled because Iran is asking too much and offering nothing in return," a European official said.
"We recognize that the Iranians need something more with which they can sell a deal at home, and we will expect real change on the other side," the diplomat added. "It is about getting the sequencing right. That is what this next round will be about."