The reported proposals that Iran intends to present at upcoming nuclear talks with P5+1 are a "joke," Intelligence Minister Yuval Steinitz said on Wednesday.

According to a report in the Wall Street Journal, Tehran will demand a relief from sanctions and offer to halt its near-weapons-grade nuclear fuel production by limiting the number of centrifuges operating, enrichment amounts and the need for verification.

"Closing the Qom facility means Iran will be able to produce five instead of six nuclear bomb in the first year, and giving up enrichment at 20% is less meaningful now that Iran has 20,000 centrifuges," Steinitz said.

"Israel will agree to a real and serious diplomatic solution... [in which] Iran could continue producing electricity at the reactor, but will have to purchase the nuclear fuel to operate the reactor from other countries," he continued. 

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