Iran is preparing a package of proposals to halt production of near-weapons-grade nuclear fuel, a key demand of the U.S. and other global powers, according to officials briefed on diplomacy ahead of talks in Geneva next week.

Tehran in return will request that the U.S. and European Union begin scaling back sanctions that have left it largely frozen out of the international financial system and isolated its oil industry, the officials said.

“The Iranians are preparing to go to Geneva with a serious package,” said a former Western diplomat who has discussed the incentives with senior Iranian diplomats in recent weeks. “These include limits on the numbers of centrifuges operating, enrichment amounts and the need for verification.”

The package from the new government of President Hasan Rouhani could revitalize long-stalled negotiations over Iran’s nuclear program and underpin an emerging diplomatic thaw between Washington and Tehran.