TEHRAN, Iran – Iran is signaling a possible compromise offer heading into critical talks with world powers deeply suspicious of its nuclear program: offering to scale back uranium enrichment but not abandon the ability to make nuclear fuel.

The proposal – floated by the country’s nuclear chief as part of the early parrying in various capitals before negotiations get under way Friday – suggested that sanctions-battered Iran is ready to bargain.

But this gambit, at least, appeared to fall short of Western demands that Iran hand over its most potent nuclear material and ease a standoff that has rattled nerves and spooked markets with seesaw oil prices and threats of Israeli military strikes.