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The leaders of Germany and Russia said on Saturday that world powers were on the verge of approving a new round of sanctions against Iran for its nuclear work.

World powers are at loggerheads with Iran over its uranium enrichment program, which they believe is a cover to build a nuclear bomb. Tehran says its nuclear work is for the peaceful generation of electricity.

Germany and the five permanent members of the United Nations Security Council -- Britain, China, France, Russia and the United States -- have been discussing a fourth round of sanctions for months and Washington has said a vote is likely next week.