The US should implement tough new sanctions on Iran and neutralise plans for a Russian-built air defense system for the country that could trigger an Israeli attack, according to a report that involved several senior advisers to Barack Obama.

It warns that Israel might strike Iran over the next two years. Israeli leaders seem convinced they have a military option but after that time it will fade because of the pace and dispersion of the Iranian program and the possible delivery of ­Russian S-300 surface to air missiles reports the Financial Times.

Arguing that such a strike “might only slow Iran temporarily” and that the US itself may pay a “high price” from a backlash across the region, the report says the administration should broaden the campaign to dissuade inter­national banks from doing business with Iran to include industrial and trading ­companies.

It also suggests sharing intelligence with a United Nations sanctions committee to ensure that UN measures are more tightly applied.

The US’s increased concern about Iran’s nuclear programme was highlighted on Sunday when Admiral Mike Mullen, chairman of the joint chiefs of staff, said the US believed Iran had enough material for a bomb. UN officials last month said that Tehran had enough enriched uranium for one device if it was processed further to weapon grade levels.

The report says that if the $800m (€631m, £558m) Russian missile sale goes ahead “the US should provide Israel with the capabilities to continue to threaten high value Iranian targets” with more modern aircraft and use such an offer “to gain leverage in pressuring Russia not to transfer the S-300″.

Kommersant, the Russian newspaper, last month reported that Moscow had put the sale on hold, at least until Dmitry Medvedev, the Russian president, has met Mr Obama at an April summit in London. Russia has already sold Iran a less sophisticated air defence ­system.

The document, due to be released this week by the Washington Institute for Near East Policy, is the result of a bipartisan working group of Washington-based analysts including Dennis Ross, named last week as the administration’s point-man on Iran and the Gulf, and Gary Samore and Robert Einhorn, whom Mr Obama is set to name as his senior officials on non-proliferation at the White House and the state department, respectively.

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