Major U.N. Security Council powers have agreed on an incremental increase in sanctions on Iran, including a new restriction on exporters doing business with the country, reported AP.

A draft resolution also calls for more monitoring of Iran’s military and financial institutions, broader travel bans on Iranian nuclear scientists and other key officials, and freezing the assets of people and banks linked to weapons proliferation, Security Council diplomats told The Associated Press.

Diplomats from the five nations with veto power on the council – the U.S., Russia, China, Britain and France – spent a third day negotiating a final agreement on principles that would form the basis for a third round of U.N. sanctions on Iran. They were joined by Germany, which has long been involved in efforts to resolve the Iran nuclear dispute.

The Bush administration continues to press the case that Iran tests ballistic missiles, enriches uranium toward building an atomic bomb, hides information and remains in violation of two previous U.N. Security Council resolutions.

The draft resolution was handed to all 15 members of the Security Council, but due to tense programs of the Council, the session of 15 members was put off to Monday.