US President Barack Obama once again threatens Iran over its nuclear program, while his Chinese counterpart stresses the need to find a diplomatic solution.

"Iran has an opportunity to present and demonstrate its peaceful intentions but if it fails to take advantage of this opportunity it will face consequences," said Obama in a joint press conference with Hu Jintao in Beijing on Tuesday.

"We agreed that the Islamic Republic of Iran must provide assurance to the international community that its nuclear program is peaceful and transparent," he added.

Hu Jintao stressed, however, that the dispute over Iran and North Koreas' nuclear programs must be resolved through dialogue, according to Xinhua News Agency.

"Both of us remain committed to resolving the nuclear issue on the Korean Peninsula through dialogue and consultation," Hu said after the meeting Obama.

"Such a commitment serves the common interests of China and the United States and all other parties concerned."

Obama keeps up the threatening tone just a day after the International Atomic Energy Agency's (IAEA) released its latest report, confirming for the twenty first time the non-divergence of Iran's nuclear program.