Israeli Defense Minister Ehud Barak said on Sunday that while Israel still believes sanctions are the best way to deal with Iran's nuclear program, other options must not be ruled out as well, local media reported.

During a meeting with US Vice President Dick Cheney in Tel Aviv, Barak stressed that Iran's nuclear program posed a threat to the stability of the region and the entire world, local daily Yedioth Ahronoth reported on its website.

During their meeting, the two discussed security and political issues.

Earlier on Sunday, Cheney met with Palestinian President Mahmoud Abbas in Ramallah, and told him that Israel and the Palestinians were required to make "painful concessions" in order to reach a peace agreement.

"President George W. Bush is the first US president who adopts the principle of establishing an independent Palestinian state living in peace and able to live," Cheney said, adding "our administration is committed to achieving this goal."

While holding talks with Israeli President Shimon Peres on Sunday morning, Cheney said his country would do everything it could to deal with the alleged Iranian nuclear threat to Israel.

Cheney is in Israel and the Palestinian territories on the latest leg of a trip to the Middle East region which has taken him to Iraq, Oman, Afghanistan and Saudi Arabia and will also take him to Turkey.

(Xinhua News Agency March 24, 2008)