12 among 15 members in the Council voted in favour of sanctions. Lebanon abstained where as Turkey and Brazil opposed the sanctions, for Iran's nuclear program, which the West suspects is aimed at developing atomic weapons.
Iranian President, Mahmoud Ahmadnejad had declared that it would go ahead with the uranium enrichment at the center of the dispute. He added that the UN resolution was "valueless" and should be thrown "in the waste bin like a used handkerchief."
Brazil and Turkey, the nations against the nuclear program, warned that the latest sanctions would impede diplomacy on Iran's atomic program.
But Russia and China, which have strong economic ties with Tehran and have at times resisted sanctions, fully backed the new UN move to blacklist dozens of Iranian military, industrial and shipping firms.
Barack Obama, US President said the sanctions would be vigorously enforced to tighten an arms impediment as it also provide for the inspections of suspect cargoes to and from Iran.