Amid the growing tension in the Korean Peninsula, Pyongyang has formally rejected the new round of UN sanctions aimed at undermining its missile and nuclear programs.

Amid the growing tension in the Korean Peninsula, Pyongyang has formally rejected the new round of UN sanctions aimed at undermining its missile and nuclear programs.

The resolution passed by the UN Security Council on Friday is the fifth of its kind since 2006, when the Democratic People's Republic of Korea (DPRK) conducted its first nuclear test.

Adopted in response to the third detonation of a nuclear device by North Korea, the resolution aims to tighten financial restrictions and cargo inspections against Pyongyang.

Responding to the move, the North said in a statement by a Foreign Ministry spokesman: "The DPRK, as it did in the past, vehemently denounces and totally rejects the 'resolution on sanctions' against the DPRK, a product of the US hostile policy toward it."

"The world will clearly see what permanent position the DPRK will reinforce as a nuclear weapons state and satellite launcher as a result of the US attitude of prodding the UNSC into cooking up the 'resolution’," Pyongyang said.

The adoption of the new round of sanctions and particularly enlisting the support of China, North Korea’s sole ally, was hailed as a big step forward by some diplomats. UN Ambassador to the United Nations Susan Rice, who led the drafting of the document and negotiated with Beijing on the matter, said that "these sanctions will bite and bite hard."

The sanctions come amid heightened tension between North Korea and its opponents. The US and South Korea are conducting massive annual military games not far from North’s border, much to Pyongyang’s annoyance. The DPRK’s military command said it suspects the drills to be a cover for preparation of a real attack and threatened to response in full force, warning that North Korea will not share the fate of Balkans, Iraq or Libya.