Iran will not retreat “one iota” from its nuclear program, President Mahmoud Ahmadinejad declared Wednesday, in a speech reported by the Associated Press.

He denied reports from the IAEA that his country is working to develop nuclear weapons as “absurd,” and accused the United Nations agency of siding with the United States.

“The Iranian nation is wise. It won’t build two bombs against the 20,000 bombs you have,” he said.

The international community is concerned that Iran could use nuclear weapons to attack Israel, as it has threatened to do, or to threaten Saudi Arabia, which it has recently plotted against, and spark a regional arms race.

The latest IAEA report suggests that Iran continues to pursue nuclear weapons, and cites new evidence, including preparations for a nuclear weapons test. While the report has led to calls for tougher sanctions, Russia and China continue to prefer negotiations, and are likely to torpedo any attempt to impose sanctions through the UN Security Council.