IRAN HAS NEGLIGIBLE URANIUM.
A reactor with no uranium produces NO electricity.
Thus if the goal is energy security enriching your own uranium does not good UNLESS YOU HAVE 50 YEAR STOCKPILE OF URANIUM.
Yellow cake is subject to the same restrictions (leash) that enriched urnaium does.
If enriched uranium fuel hinders Iran ambitions then a requirement for foreign uranium oxide is equally hindering.
Powering a Single 1 GW reactor requires about 100 tons of uranium oxide (yellowcake).
On the other hand a bomb requires only about 8 tons of uranium oxide uranium to produce 64kg of 90% enriched HEU, enough for a Hiroshima sized bomb.
Simply put Iran doesn't have sufficient domestic uranium to run an energy program. Any future nuclear power in Iran will require foreign uranium (either yellow cake or already enriched fuel).
Their enrichment program has resulted in sanctions that prohibit international trade of uranium (yellowcake or enriched). Thus it is illogical to think this enrichment is being done for "energy security".
Iran is enriching uranium to build weapons. Pure and simple. Iran claims otherwise don't fool anyone informed.
There is no more security in:
Foreign uranium -> Iran Enrich -> Nuclear Reactor
than
Foreign fuel -> Nuclear Reactor -> Foreign entity takes ownership of spent fuel
They are now in talks to trade enrichment for a fuel-swap deal (aka UAE and Jordon) however who knows what Iran will do.
http://www.google.com/hostednews/afp/article/ALeqM5iizxcN_omcotwb7WqnNtw6VH0rvQIran can have nuclear energy or a nuclear bomb. It is impossible for the world community to stop them however their limited uranium resources means they can never have both.