U.N. moves closer to international conventional arms trade treaty

United Nations members were reportedly close to a deal on Wednesday on the first international treaty meant to regulate the $70 billion global conventional arms trade.

India, Iran or other countries, however, may still block the agreement, Reuters reports.

"India, Syria and Iran are countries that could still cause trouble," a European diplomat told Reuters. "But I'll wager the treaty will pass by consensus."

According to arms control campaigners and human rights advocates, one person dies worldwide per minute as a result of armed violence. Such a treaty, they say, would halt the flow of weapons and ammunition that they believe fuels wars and rights abuses.

A final push by U.N. member states started last week to end years of discussion and create a binding international treaty meant to end the lack of international conventional arm sales regulation.

The 193 member states of the U.N. received the last revision of the draft treaty prior to Thursday, the final day of the drafting conference.

"We are continuing to review the text with an eye toward ensuring that it accomplishes all of our goals, including that it protect the sovereign right of states to conduct legitimate arms trade and of course that it not infringe upon the constitutional right of our citizens to bear arms," a U.S. official said, Reuters reports.