Iran already has all the material it needs to build a nuclear weapon, and is likely to succeed in that goal by the end of the year, warned a study carried out by the Washington Institute for Near East Policy.

According to the study, Iran is believed to currently be in possession of enough fissionable material to build 50 nuclear warheads.

It further cautioned that the nation with the most to lose if Iran goes nuclear - Israel - still believes a military option exists for dealing with the crisis, and may be compelled to exercise that option very soon.

The study's authors included members of Congress, leading academics and freshly-appointed Obama Administration envoy Dennis Ross.