Lebanon, the council's rotating president for March, has always called for a diplomatic solution to Iran's nuclear program, and has described the new deal as a first step towards that direction.
The United States has voiced confidence the draft would pass by obtaining the nine votes needed in the Security Council. However, the country and its Western allies would have to work hard to win the support of Brazil, Turkey and Lebanon if they want the resolution to reflect more international unity and to be implemented more smoothly.
Although the worries of Western powers have not been eased by the fuel swap deal, various parties have generally welcomed the initiative, saying that, with a broad engagement of the International Atomic Energy Agency (IAEA) and positive follow-ups from Iran, it could contribute to building international trust for Iran's nuclear program.
The IAEA is now expecting a written notification from Iran that it agrees with relevant provisions included in the swap deal. Such a commitment by Iran will be closely watched by other countries.
Laurie Dundon, an Iran expert at the Bertelsmann Foundation in Washington D.C., told Xinhua it was now up to Iran to decide how to respond in the face of possible new UN sanctions.
"Iran has repeatedly ignored its international obligations. There is a lot of skepticism about Iran's commitment and intentions," Dundon said. "So Iran has to prove that this time its pledges are different."
"If Iran intends to cooperate on scaling back their nuclear program, the international community will take that seriously. But Iran will need to show that this time is different and that it will be more than a half-deal. The major powers need to see detailed pledges and verifiable actions before pulling options off the table."
Iran might use the announcement of the new UN draft resolution as a reason to stop any further work on the fuel swap deal, she said. "Hopefully, Iran will continue to go ahead with the deal they pledged on Monday, offering full detail in writing to the IAEA in the next days."
"If they intend to find a diplomatic solution, this is a way to do it. But if Iran's leaders point to the announcement of the UN resolution as an excuse to delay, they will miss that opportunity and show the major powers they are not serious," Dundon added.