TEHRAN, June 22 (RIA Novosti) - Iran will respond to a package of incentives put forward by the Iran-6 by August 22, the country's president said on national television Wednesday.

Russia, the United States, China, the United Kingdom, Germany and France approved a package of proposals to get Iran to halt work on enriching uranium at a Vienna meeting June 1. EU foreign policy chief Javier Solana presented the offer to Tehran during his visit to Iran June 6.

"We will consider the proposals by the end of the Iranian month of Mordad, and will announce our decision according to the will of the Almighty," Mahmoud Ahmadinejad said on national television.

Russia's Foreign Minister Sergei Lavrov said earlier that the proposals embraced three spheres - Iran's nuclear program, economic and trade cooperation with Tehran and security guarantees.

U.S. President George Bush has said that sanctions against Iran would be toughened if the country failed to accept the world community's initiative aimed at settling the Iranian nuclear problem.

He said if Iran turned down the proposal the country could end up in international isolation and face tougher political and economic sanctions.