France, Germany and the UK have drawn up a new draft of a proposed United Nations Security Council resolution aiming to curb Iran's nuclear efforts.
Iran has refused to suspend its uranium enrichment programme
The draft details which materials Iran would be banned from acquiring under possible Security Council sanctions.
It also threatens Iran with unspecified actions if it does not suspend its enrichment of uranium, but is narrower in scope than previous drafts.
Russia and China both said early drafts were too restrictive on Tehran.
Earlier this week talks in Paris between diplomats from the five permanent UN Security Council members and Germany ended with no agreement.
But diplomats, including US Secretary of State Condoleezza Rice, have suggested that negotiations are making progress.
The new draft still would ban the supply of materials and technology that could contribute to Iran's nuclear and missile programs.
But it spells out in much greater detail exactly what items are prohibited.
It is said to retain a travel ban and the freezing of assets of individuals, companies and organizations involved with the Iranian programmes, a measure that was opposed by Russia.
Both Russia and China have direct financial concerns in Iran.
Russia is building a nuclear power station in the country and China has significant oil interests in Iran.
However, European diplomats hope to put this resolution to a vote by Christmas.
Iranian President Mahmoud Ahmadinejad has threatened to reconsider relations with those countries who support sanctions.