Which OR for the Ore?

A story from the NYT:

Under the proposed six-month deal that six major powers are negotiating with Iran in Geneva, Iran would eliminate its current stock of uranium enriched to 20 percent by diluting it or turning it into fuel rods or oxide powder, forms that are unusable for weapons, senior Western officials said Friday.

Hmmm, given that Boolean choice of "OR's" (dilution, or conversion to fuel rods or oxide) which one neutralizes its weapons potential? Which one merely stores it, a few simple chemical steps away from weaponizing it?