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Negotiations? it's been more than 60 days since we've seen some test. do you think that timetable is in any way promising and why wait until back in the u.s.? the president said there was hope for diplomacy in asia and this seems to counter that? >> we still hope for diplomacy. the timing is one of us concluding the process. there is a very specific designation process that we have to go through at the state department to be able to meet the criteria to make such a designation and we wanted to ensure we had fully met all of those requirements. again, this is all part of continuing to turn this...

Thinks he needs in order to have successful negotiations. >> okay. so i guess they didn't comment to you, reading your article. >> well, the treasury department did comment. >> -- we had to lay the foundation, grease the wheels to open up the possibility of a deal and now we may have one. >> what the treasury department spokesman said was that they believe they continue to do the enforcement element of sanctions which is levying fiens and working on penalties for those already designated. the key thing is the designation process, the process of identifying the people and entities that iran -- ...

People say, look, he's trying to get a deal so he was throwing them a bone even though he was telling us he was being tough with sanctions. what's the import of the story? why do we care? >> the administration believes it can turn on and turn off how it approaches things with iran. it saw what they thought was an opening. they are seriously negotiating now. to be sure, there are still lots of sanctions on iran that have not yet been lifted. but iran has in some ways adjusted to the outlaw status in the international economy. it's done so by creating workarounds. going after the workarounds thr...

People say, look, he's trying to get a deal so he was throwing them a bone even though he was telling us he was being tough with sanctions. what's the import of the story? why do we care? >> the administration believes it can turn on and turn off how it approaches things with iran. it saw what they thought was an opening. they are seriously negotiating now. to be sure, there are still lots of sanctions on iran that have not yet been lifted. but iran has in some ways adjusted to the outlaw status in the international economy. it's done so by creating workarounds. going after the workarounds thr...

Thinks he needs in order to have successful negotiations. >> okay. so i guess they didn't comment to you, reading your article. >> well, the treasury department did comment. >> -- we had to lay the foundation, grease the wheels to open up the possibility of a deal and now we may have one. >> what the treasury department spokesman said was that they believe they continue to do the enforcement element of sanctions which is levying fiens and working on penalties for those already designated. the key thing is the designation process, the process of identifying the people and entities that iran -- ...