The 15-member UN Security Council will meet in New York on Thursday at 10 a.m. local time to vote on a U.S.-drafted resolution against North Korea for its latest nuclear test.
It'll need the approval of at least two-thirds of the council members to be adopted and is widely expected to be approved unanimously.
If adopted, the council's 1-hundred-and-93 member states will be obliged to block any financial transactions or monetary transfers that could contribute to Pyongyang's nuclear or ballistic missile programs.
The new resolution would make inspections of suspected land, sea or air cargo heading to North Korea mandatory.
Currently, these have been done on a voluntary basis.
The Council will also blacklist two North Korean enterprises and three individuals working for North Korean companies that are believed to be involved in Pyongyang's missile program and arms trade.
This means they will be hit with asset freezes and travel bans.
UN Security Council diplomats say the resolution is intended to bring the sanctions against North Korea more in line with measures slapped on Iran, which they say were surprisingly effective in slowing down its nuclear program.
Seoul's foreign ministry welcomed the draft resolution, saying it meets the country's expectations.
"If the resolution is adopted as it is, the Korean government sees it as one that strengthens existing sanctions and includes several new ones at the same time."
But it left open the possibility of additional measures that could be delivered independently by each country, saying that it was up to their respective governments.
"As for the possibility of further provocations by North Korea in retaliation against the new sanctions, the ministry said it is working with related ministries and key countries and is ready to respond.
Hwang Sung-hee, Arirang News."