Regardless, neither Israel nor Iran need nuclear weapons. Israel, as an undeclared nuclear power, should immediately declare that it is, and immediately take steps in accordance with those who have signed the Nuclear Non-Proliferation Treaty of 1970, and begin to disarm itself. Iran, as a signatory, should adhere to its obligations as per the treaty and show more transparency in its nuclear program. If such a program is for creating nuclear power and isotopes for medicinal purposes, then Iran is within its rights to hold such a program. However, if such underlying secrecy is hiding a weapons program, then there is no reason for Iran to have a program at all.
This is why I believe that Presidents Obama and Medvedev got it right to begin with in trying to get Iran to talk, but I still think that additional sanctions won’t conduce any kind of dialogue. I do have to admit one thing though, the sanctions seem to be making Iran desparate, which can account for its tantrumous behavior, i.e., threatening to close down the Hormuz Strait. This is a credible, though fairly short term, threat.