Israeli Prime Minister Benjamin Netanyahu on Thursday reiterated his call on the international community to step up sanctions against Iran over the potential threats its nuclear program poses for Israel and the world.

Israeli Prime Minister Benjamin Netanyahu [File photo]

Speaking at a joint press conference in Jerusalem with his Romanian counterpart Emil Boc, Netanyahu said that the new economic sanctions on Iran announced earlier this week were "very important, but not enough."

"Effective sanctions should also be imposed on Iran's petroleum industries and central bank, and soon. I don't know if they will help, but we won't know unless we try," said Netanyahu.

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U.S. President Barack Obama announced Monday a new round of sanctions targeting Iran's petrochemicals industry, but stop short of hitting its oil and gas sector and central bank. The executive order signed by Obama also listed sanctions against 11 individuals and entities "for their role in Iran's weapons of mass destruction program" and identified Iran as a country of "primary money laundering concern."

Countries including Britain, France and Canada said they would join the U.S. efforts to intensify punitive financial measures against Iran.

"The purpose of Iran's nuclear program is no longer disputable, " Netanyahu said, referring to a report issued on Nov. 8 by the International Atomic Energy Agency, which claimed that Tehran was clandestinely seeking to produce nuclear weapons.

The Romanian prime minister and his senior ministers convened Thursday for a first bilateral consultation with Netanyahu's cabinet in Jerusalem.

Later Thursday, Netanyahu and Boc will sign a joint declaration that emphasizes the "historic partnership between the two countries and the aspiration to continue strengthening bilateral relations in various areas," Netanyahu's office said in a statement.