According to administration officials, President Barack Obama will sign an executive order today mandating new financial sanctions on North Korea.

The sanctions will be on eight North Korean “entities” and four individuals. They will target trade in arms, luxury goods and narcotics.

These sanctions follow the sinking of a South Korean warship in march where 46 sailors died.

North Korea has since denied responsibility for the sinking of the ship.

Secretary of State Hillary Clinton said last month that the US sanctions on North Korea would see an expansion.

The US has attempted to steer international efforts to prevent North Korea from building nuclear weapons.

North Korea claims last year they an attempted to blockade the country would be seen as an “act of war”.

The country has been seeking nuclear weapons for years and carried out its second nuclear test last year, sparking international condemnation.

Analysts sayd that even as the new sanctions are put in place, the State Department is looking into whether to take a new approach, since there is not much evidence that North Korea is backing down from its nuclear ambitions or being any less belligerent towards is South Korea neighbor.

According to China's state media, North Korean leader Kim Jong-il, meanwhile, has said to Beijing that he hopes for a quick resumption of the six-party nuclear talks.

The comments followed confirmation that Mr Kim was in China over the weekend, his second visit this year.