Central Bank of the Islamic Republic of Iran said in its latest report that the country’s foreign currency reserves on September 12 amounted to USD68 bln, showing 19.8% of growth compared with the last year.

Iranian Oil Minister Gholam Hossein Nozari has said that the Islamic Republic’s oil and gas output could reach 4.5 mln barrels per day of oil equivalent within the next two years.

China has pulled out of a meeting to discuss new sanctions on Iran, European diplomats said on Friday, highlighting the obstacles western powers, specially the US, face in their quest to increase pressure on Tehran over its nuclear program.