Limits on imports of crude oil and oil products.
The resolution adopted today will significantly reduce North Korea's oil imports, bans North Korea from importing natural gas and exporting textiles, and restricts the number of labourers from North Korea that will be able to work overseas and generate income for the regime.
The Security Council vote comes hours after North Korea warned that it would inflict "pain and suffering" on the USA should the resolution go through.
Pyongyang is "ready and willing to use any form of ultimate means," the ministry said in a statement, adding that the country could cause the USA "the greatest pain and suffering it had ever gone through in its entire history".
14 May 2017: North Korea tested what it said was a "newly developed ballistic rocket" capable of carrying a large nuclear warhead.
He also opposed the deployment of the Terminal High Altitude Area Defence (THADD) anti-missile system by the US in South Korea asserting that it undermined the security of China and other countries in the region.
During negotiations on Sunday, the USA conjured up a new draft of the sanctions resolution as the initial draft imposed a complete oil embargo and a partial naval blockade, to rally China and Russian Federation into supporting the cause.
Foreign Minister Julie Bishop told parliament on Tuesday ever-increasing economic pressure on North Korea was essential to getting the nation to the negotiating table and abandoning its illegal programs. One thing that remained in both of these drafts is a ban on North Korean textile exports.
US Ambassador to UN Nikki Haley emphasizing that the United Nations and the entire global community stood united against the threats posed by the Democratic People's Republic of Korea, said today's resolution built on what were already the deepest-cutting sanctions ever levelled against that country.
The sanctions follow a series of North Korean missile tests in recent months, culminating in an intercontinental ballistic missile that appeared to bring much of the USA mainland into range. "But to achieve such a solution, the pressure on North Korea must be increased".
She pointed to negotiations that led to a landmark nuclear agreement between Iran and world powers in 2015.