Obama Warns Iran of 'Grave Consequences' Over Nuclear Program

President Barack Obama is offering Iran "a serious, meaningful dialogue" over its disputed nuclear program, while warning Tehran of grave consequences from a united global front.

"Iran's leaders must now choose - they can live up to their responsibilities and achieve integration with the community of nations. Or they will face increased pressure and isolation, and deny opportunity to their own people," Obama said in his radio and Internet address Saturday.

Hours later, Iran's nuclear chief told state TV that his country would allow the U.N. nuclear agency to inspect Iran's newly revealed and still unfinished uranium enrichment facility. Ali Akbar Salehi didn't specify when inspectors from the International Atomic Energy Agency could visit. He said the timing would be worked out with the U.N. watchdog.

Obama Issues Ultimatum to Iran [Associated Press]