The European Union said Monday it is considering imposing tougher sanctions on North Korea over its latest test of an intercontinental ballistic missile.

The Council of the EU strongly condemned North Korea's missile test as it poses a serious threat to international peace and security, it said in a statement.

It said it will "consider further appropriate responses" to the North's action in close consultation with key partners and in line with United Nations Security Council sanctions.

On July 4, North Korea test-fired its first ICBM, claiming that it can hit targets anywhere in the world.

The UNSC is working on a new set of punitive actions against the North following its sanctions resolutions adopted after last year's two nuclear tests.

Pyongyang warned Friday it will take ""corresponding measures" if the UNSC adopts a new punitive resolution on the North.

The EU also said it supports South Korea's efforts to engage in a "credible and meaningful" dialogue with the North.

South Korea on Monday proposed inter-Korean military talks to defuse tensions along the tense border and Red Cross talks to resume reunions of families separated by the 1950-53 Korean War. (Yonhap)