"We are making some progress," Russian Ambassador Vitaly Churkin told reporters after closed meeting with his counterparts from the United States, China, Britain, France and Germany.

However, he pointed out that Moscow still objected to some issues in the draft, which includes a travel ban on Iranian companies and individuals involved in Iran's nuclear program.

"The travel ban, we think it does not fit," Churkin said, adding that he wanted the list for the travel ban to be deleted.

A diplomat, who said on condition of anonymity, told Xinhua that Russia declared at the meeting that the travel ban was unnecessary. However, the United States insisted on the ban despite the fact that the European countries intended to make concessions, he said.

Meanwhile, Russia was ready to accept the proposed freeze of the financial assets of companies, individuals and organizations involved in Iran's nuclear and missile programs as long as the language relating to this content be modified, the diplomat added.

The diplomat also said that the United States preferred to strengthening the role of the sanctions committee and letting it rule on any exceptions to the ban.

Britain, France and Germany circulated on Friday afternoon to UN Security Council members a revised draft resolution, which imposed sanctions on Iran for its refusal to suspend uranium enrichment.

It urges Iran to suspend all enrichment activities as well as all heavy water related projects, and bars Iran from importing or exporting key materials and technology related to its nuclear and ballistic missile programs, but leaves a slot for dual-use items.