Watch CBSN Live

Iranian nuclear negotiator says it's time to "seize the moment"

LAUSANNE, Switzerland -- The nuclear talks are likely to extend 24 to 48 hours past Tuesday's deadline, meaning the talks, which have already exceeded their preordained deadline could drag on until the end of the week. Germany's top negotiator, Foreign Minister Frank-Walter Steinmeier, told reporters that there will be new proposals presented Wednesday night, including one by Iran. French Foreign Minister Laurent Fabius had left Lausanne but is now returning for what is expected to be a long night of negotiations.

Earlier Wednesday, Iranian Foreign Minister Javad Zarif told reporters that he believes it is time for negotiators to "seize the moment" because, he said, this opportunity "may not be repeated." Zarif then went into a meeting with Secretary of State John Kerry that lasted no more than ten minutes.

Challenges ahead even if Iranian nuke talks yield a deal

No cameras were allowed in to any of the negotiators' meetings Wednesday. Kerry did not speak with the press Wednesday, but he has not yet given up on reaching a deal in Switzerland. State Department spokesperson Marie Harf released a statement saying, ‎"We continue to make progress but have not reached a political understanding. Therefore, Secretary Kerry will remain in Lausanne until at least Thursday morning to continue the negotiations."‎

. Steinmeier said that he will decide Thursday morning whether or not to continue participating in the negotiations. He said that a collapse of the talks is possible but suggested it could still be avoided.