The US and the European Union (EU) are considering "additional measures" on Iran, a US-EU joint statement said on Monday, citing its continued failure to abide by its international obligations.

The statement said that the two sides share "deep concern" on Iran's behaviors in the wake of a report released by the International Atomic Energy Agency (IAEA) on November 8, which outlined alleged activities pointing to clandestine nuclear bombs making by Iran.

The two sides reaffirmed their commitment to work toward a diplomatic solution, implement UN Security Council resolutions and consider "additional measures" given Iran's continued failure to abide by its international obligations, according to the statement.

The statement came after the US President Barack Obama hosted European Council President Herman Van Rompuy, European Commission President Jose Manuel Barroso, and High Representative for foreign policy Catherine Ashton at the White House for an annual US-EU summit.

The statement stressed the two sides' determination to ensure that Iran complies with its obligations and to cooperate fully with the IAEA to address concerns over the nature of its nuclear program.

The US and its Western allies have been stepping up pressure on Iran. Last Monday, the Obama administration authorized to impose new sanctions, targeting Iran's energy sector for the first time. In addition, the US warned of the threats to governments or financial institutions that do business with Iranian banks, and for the first time identified the entire Iranian banking sector as a threat.

In a coordinated move, Britain and Canada had said that they were cutting links with Iran's banks.