New U.N. Sanctions On N. Korea Likely

Diplomats say seven key nations have agreed on new U.N. sanctions against North Korea for conducting a second nuclear test.

Ambassadors from the five veto-wielding Security Council nations - the U.S., China, Russia, Britain and France - and the two countries most closely affected by the test, Japan and South Korea, reached agreement on the draft U.N. resolution after two weeks of closed-door negotiations, diplomats said.

The diplomats spoke on condition of anonymity ahead of the presentation of the draft resolution to the 15-member Security Council later Wednesday.

The draft, obtained by The Associated Press, would expand an arms embargo against North Korea, curtail the North's financial dealings with the outside world, and authorize searches of ships on the high seas suspected of carrying banned weapons and nuclear material.

The draft increases the pressure on North Korea, CBS News Foreign Affairs Analyst Pamela Falk said, "and, if history is any lesson, Pyongyang is likely to respond by testing another missile - and then get to some bargaining to return to the Six-Party talks."

"The ship inspection provisions of the draft resolution, along with those in the U.S.-led Proliferation Security Initiative are more likely to lead to a confrontation, so the stakes have definitely increased," Falk said.