The United Nations Security Council is set to vote on a draft resolution to tighten sanctions on North Korea, which continues to fire ballistic missiles.

Diplomatic sources at the UN say the US-compiled draft could be put to a vote as early as Thursday.

The United States has strongly criticized North Korea for violating previous Security Council resolutions.

The draft would further cut the amount of crude oil and refined petroleum products that UN member states can export to North Korea.

It would also freeze the assets of North Korean hackers, as Pyongyang is said to be acquiring funds for nuclear and missile development through cyberattacks.

North Korea on Wednesday fired multiple missiles, including a suspected intercontinental ballistic missile.

A senior US government official stressed that if the resolution is adopted, it could limit the North's capabilities to develop nuclear arms and missiles.

However, China and Russia, both permanent members of the Security Council, have been calling for the sanctions to be eased. The draft resolution would be scrapped if either one of them uses its veto power.