Isn't this blackmail?

Courtesy of dictionary.com:

"Blackmail: n. extortion of money by threats"

Now see this:

The Los Angeles Times (5/26, Rubin) reports, “Averting an imminent showdown with Western powers, Iranian negotiators here indicated Wednesday that Tehran would back off threats to restart nuclear processing activities in exchange for a promise that it will receive a comprehensive aid proposal from Britain, France and Germany by the end of July.”

Given the definition above, anyone else have a problem with that?