It also bans North Korea from importing all natural gas liquids and condensates.
The import of refined petroleum products is also limited.
China, North Korea's top trading partner, is not eager to endorse sanctions that could undermine Pyongyang stability and cause millions of refugees to cross its border.
Monday's decision was the eighth sanctions resolution unanimously adopted by the 15-member Security Council since 2006 over North Korea's ballistic missile and nuclear programmes.
In an apparent hint that it will ramp up its provocative acts, the North warned on Monday that the United States will suffer the "greatest pain" if it pushes ahead with new tougher UN sanctions over its sixth nuclear test, threatening that it will make Washington pay a "due price".
"The world will witness how North Korea tames the United States gangsters by taking a series of actions tougher than they have ever envisaged", the foreign ministry said in a statement carried by the official KCNA news agency.
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An initial draft of the United Nations sanctions called for a ban on all oil and natural gas exports to North Korea, as well as a freeze on all foreign financial assets of the government and Kim Jong Un.
In a separate KCNA commentary released late Saturday, the North said that the administration of US President Donald Trump "has not yet fully understood the meaning and stern warning" it issued via its "ICBM-ready hydrogen bomb test".
US officials said the new measures would cut North Korean exports by 90 percent, pinching the regime's ability to get hard currency.
"If China doesn't follow these sanctions, we will put additional sanctions on them and prevent them from accessing the USA and global dollar system, and that's quite meaningful", said Mnuchin, according to news agencies.
North Korea rejected the measure.
"European Council on Foreign Relations UN expert Richard Gowan said the United States had "rather predictably been mugged by reality" during the most recent negotiations" on sanctions. Russia's United Nations ambassador Vassily Nebenzia told the Security Council on Monday that Moscow supported the resolution because "leaving nuclear tests without a firm reaction would be wrong".
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The country's leader, Kim Jong Un, celebrated the national holiday on Saturday by bringing his nuclear scientists and engineers to Pyongyang, the capital, and holding a banquet.
If nearby states have reasonable suspicion that ships transiting to North Korea are carrying prohibited items, those ships should undergo inspection by the proper authorities, according to the UN-drafted resolution.
Assistant Secretary of the Treasury for Terrorism and Financial Intelligence Marshall Billingslea testifies during a House Foreign Affairs Committee hearing on North Korea sanctions, Tuesday, Sept. 12, 2017, on Capitol Hill in Washington.
A week ago, Haley called for the "strongest possible" sanctions, but after several days of negotiations, Washington dropped several measures to win the support of Russian Federation and China, including a bid for an oil embargo and the blacklisting of North Korean leader Kim Jong Un and the national airline.
"Today, we are saying the world will never accept a nuclear-armed North Korea".
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MHCV sales grew by 28.43% as it sold 26,376 units in August 2017 in comparison with 20,537 units in the same month previous year . While export of passenger vehicles grew by a decent 2.62 per cent, two-wheeler exports grew by a considerable 13.82 per cent.