The world has "reached the pivotal moment of truth regarding Iran," Prime Minister Ehud Olmert said Tuesday during his speech at the annual United Jewish Communities General Assembly in Los Angeles.

Olmert implored the international community to act swiftly and decisively to prevent Iran from gaining nuclear weapons.

"No longer can the international community afford to hesitate, contemplate or waiver in its dealing with this defiant state," said Olmert. "No longer can we allow Iran to defer the demands of the international community without consequence."

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The prime minister said a nuclear-armed Iran would cause unprecedented global instability. "If Iran achieves the ability to produce nuclear weapons, as we know it is seeking to do, we will enter a new era of instability unlike any the world has ever seen," said Olmert.

"We cannot tolerate, we will not tolerate, those who challenge Israel's right to exist while actively seeking to develop the catastrophic weapons to fulfill their goals," continued the prime minister. " Our actions will be measured by results, not intentions."

The Iranian nuclear program was the main issue discussed between Olmert and President George W. Bush during their Monday meeting at the White House.

"America's leadership in preventing Iran's nuclearization is indisputable and unequaled," said Olmert in his speech. "But America must have the support of the international community if we are to successfully defuse this mortal threat."

Olmert also called for an coalition of moderate Arab countries to help prevent Iran from undermining stability in the Middle East.

"This coalition must struggle against the dangers of radical Islam that manipulate the very source of Islam itself," said the prime minister. "We saw this coalition forming towards the end of the fighting in Lebanon."

Turning to the recent Lebanon war, Olmert praised the job done by the Israel Defense Forces, saying the war dealt a serious blow to Hezbollah and forever changed the security situation in Lebanon.

"Hezbollah was dealt a blow they did not calculate and were not prepared for," said Olmert. "Israel's response proved we would not tolerate continued threats against us."

"It is enough merely to quote Hezbollah's leader who said he would not have initiated the abductions had he known Israel would react with even one percent of the force we did," said the prime minister.

"The security situation in Lebanon has been forever altered - we will never return to the former status quo," continued Olmert. "The Lebanese military, and not Hezbollah, is deployed in the south. The Lebanese government is asserting its sovereignty over the entire state."

The prime minister also reiterated his demand for full implementation of UN Resolution 1701, which serves as the basis for the cease fire.

Nonetheless, Olmert admitted that there are many lessons that Israel must draw from the war. "We will learn them and we will correct whatever is needed.," said Olmert. "We already started this process."

Olmert also said he remains committed to securing the release of the three captured IDF soldiers - Ehud Goldwasser and Eldad Regev, held by Hezbollah, and Gilad Shalit, held by Hamas-affiliated Palestinian militant groups.

Addressing Goldwasser's wife Karnit, who was in attendance, the prime minister said "Karnit, I promise you that Israel will do, that I will do the utmost to bring back our dear sons and bring Udi back to your arms."

"There is nothing more important to me than bringing our three heroes back home," he said.

On the Palestinian track, Olmert said he is willing to meet with Palestinian Authority Chairman Mahmoud Abbas without preconditions.

"It is clear that progress can be achieved only by talking to each other," said Olmert. "Here and again I declare, I am willing to meet Chairman Abbas immediately, without preconditions, to discuss with him means for creating progress for our two peoples and hope for a better future in our region."

Nonetheless, the prime minister reiterated that any Palestinian government must meet the three conditions put forth by the "Quartet" of Middle East peace negotiators - the U.S., European Union, Russia, and the United Nations - that it recognize Israel, renounce violence, and accept previously signed agreements.

"Israel cannot accept a government led by an organization that denies our existence, actively pushes to destroy our society through unending terrorist attacks or refuses to even recognize former agreements signed upon by Israelis and Palestinians," said Olmert.

"It is unacceptable for Hamas to participate in the Palestinian political system while maintaining its ability to commit terrorist actions concurrently," the prime minister added.

The prime minister also praised the support the UJC provides for Israel, including assistance for postwar reconstruction in the north, and called for continued cooperation to combat global anti-Semitism.

Together, we must also remain dedicated in our fight against those who persecute us on account of our religion, said Olmert.