The resolution also prohibits any new joint business ventures with North Koreans, limits existing ones and blacklists 13 new North Korean individuals and entities, including its primary foreign exchange bank. But "we should not fool ourselves into thinking we have solved the problem", Haley said.
"Further action is required. It is rapidly growing more risky", she said.
U.S. Ambassador to the United Nations. The U.S. will also continue to conduct its annual military exercises with South Korea, while both China and Russian Federation reiterated their opposition to the deployment of the U.S. THAAD missile-defense system in South Korea, though that issue did not prevent them from supporting the final resolution.
While noting that the sanctions were the right response to a series of missile tests, Mr Wang also urged the United States and South Korea "to stop increasing tensions", adding that all sides should return to negotiations.
North Korea, the US and South Korea should exercise restraint and make right choice to de-escalate tensions in the Korean peninsula, Chinese Foreign Minister Wang Yi said on Sunday.
The statement came only hours after the UNSC adopted the new sanctions resolution.
"We've seen two [Intercontinental Ballistic Missiles] fired in just the last month". Nikki Haley praised the council's decision to match "its words and actions" and called it a "gut punch" to North Korea.
State-run daily Rodong Sinmun accused Washington and its allies of maintaining their hostile policy against the country, and stressed the need for Pyongyang to have nuclear weapons for its own defence, reports Efe news.
But there were no signs the United States would acquiesce to China's call for a quick return to negotiations. "We don't have much engagement with them".
President Donald Trump has expressed disappointment in the failure of China, which accounts for 90 percent of North Korea's economic activity, to exert sufficient pressure on the rogue regime in Pyongyang.
When asked about the effectiveness of another set of sanctions - those against Russian Federation that President Donald Trump signed into law Wednesday - Haley said "we'll have to wait and see". China's emphasis on dialogue to deal with the situation was also echoed in the resolution, which called for resuming the Six-Party Talks involving the two Koreas, China, the US, Russia and Japan.
"We are not hostages to our relations when we have to work together on issues which are far more important", Russia's Nebenzia told Reuters.
It adds nine North Koreans, mainly officials or representatives of companies and banks, to the United Nations sanctions blacklist, banning their travel and freezing their assets. This year, Pyongyang was estimated to earn $251 million from iron and iron ore exports, $113 million from lead and lead ore exports, and $295 million from fish and seafood exports, the diplomat said.
North Korea's top diplomat, Ri Hong-Yo, is also attending the regional summit, which is hosted by the 10-member Association of Southeast Asian Nations (Asean). "So I'm not pretending that tomorrow there will be a radically different position in relation to North Korea, but over time the sanctions demonstrate the unity of the worldwide community, particularly if they are well implemented".
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