"In exchange, Iran would get ... nothing"

"...Let's take a look at his latest. Ignatius says that "the smart money in Tehran is betting on a deal" -- picking up on a rise in the Iranian stock market to argue that a nuclear agreement is in the offing. "So far," he writes, "Iran is following the script for a gradual, face-saving exit from a nuclear program that even Russia and China have signaled is too dangerous. The Iranians will bargain up to the edge of the cliff, but they don’t seem eager to jump." According to Ignatius, under this deal, "Iran would agree to stop enriching uranium to the 20 percent level and to halt work at an underground facility near Qom built for higher enrichment. Iran would export its stockpile of highly enriched uranium for final processing to 20 percent, for use in medical isotopes."
In exchange, Iran would get ... nothing, at least right away. Ignatius suggests that the Europeans would agree to delay implementing their oil embargo, set to take effect July 1, and the Americans would delay their own fresh round of sanctions due to be implemented in late June.
Frankly, I don't see how this can work. There do seem to be signs that Khamenei is laying the political groundwork for a deal, for instance by bringing his pragmatic former president, Ali Hashemi Rafsanjani, back into his good graces. But any deal that doesn't visibly benefit Iran --  rather than merely preventing future harm -- will inevitably be viciously attacked within the country's fragmented political system. And I suspect, given his past behavior, that the supreme leader will stick his finger in the air before staking out a clear public position.
It seems equally unlikely that President Obama will risk handing an electoral issue to his rival Mitt Romney by making any real concessions to Tehran. Americans may not be eager to fire up the B-52s -- and the Pentagon certainly isn't -- but they don't want to see their president look weak. And even if Obama did cut a deal, Republicans and pro-Israel groups would likely make a lot of noise, and might even be able to derail it..."