A nuclear-armed Iran would threaten Israel's existence, the security of the Persian Gulf nations, and global economic stability, US President Barack Obama has told UN General Assembly.

"We respect the right of nations to access peaceful nuclear power. But one of the purposes of the United Nations is to see that we harness that power for peace," Obama told UN delegates.

"Make no mistake: A nuclear-armed Iran is not a challenge that can be contained," the US President warned the UN General Assembly, as cited by international media.

Obama also told the world leaders present at the UN that "the United States will do what we must to prevent Iran from obtaining a nuclear weapon."

Obama's comments came just a day after Iranian President Mahmoud Ahmadinejad made fresh incendiary statements concerning Israel, saying it has "no roots" in the Middle East.

Ahmadinejad is set to address the UN General Assembly on Wednesday. Iran has insisted its nuclear program is strictly for peaceful purposes.

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