The five permanent members of the UN Security Council, along with Japan and the Republic of Korea (ROK), on Wednesday reached agreement on a draft resolution in response to the recent nuclear test conducted by the Democratic People's Republic of Korea (DPRK).

The draft resolution is a "very strong, very credible, very appropriate" response, US Ambassador to the UN Susan Rice told reporters at the end of closed-door consultations by the 15 members of the UN Security Council to consider a draft resolution on the DPRK nuclear test.

US UN Ambassador Susan Rice speaks to the media at the UN headquarters in New York, the United States, June 10, 2009. The five permanent members of the UN Security Council and Japan and South Korea on Wednesday reached agreement on a draft resolution in response to the nuclear test conducted by the Democratic People's Republic of Korea (DPRK), a diplomat said.[Shen Hong/Xinhua]

"North Korea's behavior is unacceptable," Rice said. "They must pay a price."

The 15-nation Council is expected to adopt the resolution within 24 to 48 hours after some Council members consult their capitals, Mexican UN Ambassador Claude Heller told reporters here on Wednesday.

Apart from expressing the "gravest concern for" the DPRK nuclear test, the 34-paragraph resolution includes a range of punitive measures that would severely curtail loans and money transfers to the DPRK, as well as an arms embargo.

Russian UN Ambassador Vitaly Churkin speaks to the media at the UN headquarters in New York, the United States, June 10, 2009. [Shen Hong/Xinhua]

"This daft would impose a complete embargo on the export of arms from North Korea," said Rice. "These arms exports have been a significant source of revenue for North Korea and we think it important that that source of revenue be curtailed."