"We hope the conclusions to be presented by the International Atomic Energy Agency (IAEA) at the end of November in Vienna, will be straight and clear, so the UN Security Council can rule in favour of sanctions if Iran refuses to halt its nuclear programme," he told public radio.
"Iran is a threat to the entire world's stability because the country is developing a nuclear weapons programme, including long-range missiles that could reach London, Paris and parts of Russia," Shalom charged.
Britain, France and Germany are preparing for talks with Iran on Friday over a deal in which Tehran would suspend uranium enrichment in exchange for a nuclear cooperation programme with Europe.
Under an IAEA resolution, Iran has until November 25 to clear up suspicions over its nuclear programme or risk seeing the issue referred to the Security Council for possible sanctions -- a move backed by the United States.
Israel, which views Iran as its number one enemy since last year's downfall of Saddam Hussein's regime in Iraq, has been lobbying hard for greater pressure to be exerted on Tehran.
The Islamic republic insists its nuclear activities are only for peaceful purposes and has regularly complained that the Jewish state is the true threat to stability in the Middle East.
Israel itself refuses to confirm it has a nuclear arsenal but is estimated to possess some 200 warheads.