Even more significant, Iran’s supreme leader, Ayatollah Ali Khamenei, is signaling his country is ready for diplomacy.

“We are not opposed to correct and rational steps on the diplomatic front, be they in the world of diplomacy or whether they fall in the arena of domestic politics. I firmly believe in what was termed many years ago as “heroic flexibility.” This is not a problem - flexibility in some areas is essential and is a good thing,” said Khamenei.

What appears to be driving the new tone from Tehran is the country’s faltering economy following multiple rounds of sanctions. Its currency has lost half of its value, and its oil exports are significantly down.

But its nuclear program continues to enrich uranium. Iran says its plants are for peaceful purposes. The West and Israel believe they are a cover for developing weapons.

White House officials say there are currently no meetings scheduled between the president and his Iranian counterpart. But press secretary Jay Carney said Obama is open to negotiations.

“He would, as president, be willing to have bilateral negotiations with the Iranians provided that the Iranians were serious about addressing the international community’s insistence that they give up their nuclear weapons programs,” said Carney.

Even if Iran comes back to the bargaining table, analysts say negotiations with the West will be hard.