The US and China today introduced a joint resolution at the United Nations Security Council that would intensify sanctions on North Korea for its nuclear test last month, targeting the country's banking activities and it's diplomats.

"The sanctions contained in this draft resolution will significantly impede North Korea's ability to develop further its illicit nuclear and ballistic missile programmes," US Ambassador to the UN Susan Rice told reporters.

These sanctions-as well as a commitment to take further significant measures in the event of another launch or nuclear test-will demonstrate clearly to North Korea the continued costs of its provocations, she added.

Rice aid the resolution will take the UN sanctions imposed on North Korea to the next level, breaking new ground and imposing significant new legal obligations.

"For example, for the first time ever, this resolution targets the illicit activities of North Korean diplomatic personnel, North Korean banking relationships, illicit transfers of bulk cash, and new travel restrictions," she noted.

The resolution builds upon previous three UNSC Resolutions -- numbers 1718, 1874, and 2087 as a result of which North Korea will be subject to some of the toughest sanctions imposed by the United Nations.

"The breadth and scope of these sanctions is exceptional and demonstrates the strength of the international community's commitment to denuclearisation and the demand that North Korea comply with its international obligations," Rice said.