Israeli Prime Minister Benjamin Netanyahu has stated that the world must make clear that Iran would face "credible military action" if sanctions do not shut down Tehran's disputed nuclear program.

In an interview on CNN, Netanyahu said it was clear Iran was pursuing its nuclear ambitions despite international sanctions and was getting a lot closer to obtaining nuclear arms.

"They have enriched enough material now almost for three nuclear bombs," he said. "They still have to re-enrich it again but that is what they are doing. The only thing that will work is if Iran knew that if sanctions fail there will be a credible military option," Netanyahu was cited by Israeli media.

When asked what would constitute a credible military action, Netanyahu said: "It means action that will knock out their nuclear facility."

He also said if military action was taken, he would prefer that it be lead by the United States, underscoring that a nuclear-armed Iran would not on be just a concern for Israel because it would pose the risk of proliferation.