The resolution is designed to accomplish six major goals: cap North Korea's oil imports, ban textile exports, end additional overseas laborer contracts, suppress smuggling efforts, stop joint ventures with other nations and sanction designated North Korean government entities, according to a US official familiar with negotiations.
"Today, we are saying the world will never accept a nuclear armed North Korea, and today the Security Council is saying that if the North Korean regime does not halt its nuclear program, we will act to stop it ourselves," US ambassador to the UN Nikki Haley said following the vote on Monday.
"We are done trying to prod the regime to do the right thing, we are now trying to stop it from having the ability to do the wrong thing," she added. "We are doing that by hitting North Korea's ability to fuel and fund its weapons program."
first circulated a draft resolution that called for a full ban on exports of oil to North Korea and an asset freeze on leader Kim Jong Un, the Worker's Party and the government of North Korea.
But later, the US put forward another draft that removed the full oil embargo, asset freeze, travel ban for Kim and softened the language on foreign workers and other issues.