The Associated Press
By MICHAEL WEISSENSTEIN
Foreign Minister Manouchehr Mottaki was asked about the option of reducing diplomatic relations with London after a Cabinet meeting in Tehran.
"We are studying it," Mottaki said, according to state television.
Iran expelled two British diplomats Tuesday after bitterly accusing Britain of spying and fomenting days of unprecedented street protests over the vote.
Supporters of opposition candidate Mir Hossein Mousavi say the election, called for President Mahmoud Ahmadinejad, was tainted by massive fraud.