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Frank Barnaby, consultant for the UK security think tank the Oxford Research Group, agrees that Iran does not yet have a critical number of centrifuges in place.
"They don't currently have enough centrifuges working - so far as we know - to produce significant amounts of highly-enriched uranium or even enriched uranium. They would need a lot more," he told the BBC News website.
Even if the plant is made fully operational, it is currently configured to produce low enriched uranium (LEU) rather than the weapons-grade highly-enriched uranium (HEU).
So given these limitations, the IISS believes it would take Iran at least a decade to produce enough HEU for a single nuclear weapon.
Dr Barnaby agrees.
"The CIA says 10 years to a bomb using highly enriched uranium and that is a reasonable and realistic figure in my opinion," he said.
The aim of enrichment is to increase the proportion of fissile uranium-235 atoms within uranium.
For uranium to work in a nuclear reactor it must be enriched to contain 2-3% uranium-235. Weapons-grade uranium must contain 90% or more u-235.